Cryptocurrency Hardware Wallet Provider Ledger Postpones Release of Key Recovery Service After Public Criticism

Last week, Ledger announced the service, called Ledger Recover, which will allow users to store encrypted backups of their seed phrases with a set of three custodians. Ledger owners will then be able to restore their private keys even if they lose or forget their seed phrases. The opt-in feature will require a know-your-customer (KYC) verification.