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Hardware crypto wallet firm Ledger has faced harsh criticism from the crypto community after announcing its “Recover” service, which is an optional paid feature that will eventually allow users to back up and restore their private seed phrase.Due to concerns expressed about the security elements of Ledger Recover, the hardware
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Another centralized exchange (CEX) bites the dust, with Hotbit announcing it will close operations due to adverse business conditions. As is common among CEX collapses in recent months, the crypto firm mentioned FTX, the ongoing banking system crisis, and even a probe, as reasons for its cash flow problems.Also facing
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In a recent blog post, Pascal Gauthier, Chairman and CEO of Ledger, addressed concerns over the company’s new product, Ledger Recover. The announcement of this product, provided by Coincover, was met with confusion and surprise,
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The controversy surrounding Ledger’s key-recovery service has boosted sales for its competitor Trezor. Besides, Trezor also addressed concerns over security and develops an auditable secure element through its sister company Tropic Square. The controversy surrounding Ledger’s recently released key-recovery service has ultimately benefitted hardware wallet competitor Trezor. Hardware wallet manufacturer Trezor
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The latest example comes from Ledger, the Paris-based crypto hardware wallet company, which, following a public-relations firestorm last week, announced Tuesday that it would delay plans to release a controversial new wallet-recovery feature called Ledger Recover. Source
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After a strong community backlash, Ledger announced that they have already open-sourced part of the Ledger code. Crypto hardware wallet provider Ledger recently announced that it be delaying the launch of its key-recovery service. This measure comes following strong criticism from the crypto community. Ledger CEO Pascal Gauthier wrote to all Ledger
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Ledger has decided to postpone the launch of its private key recovery service after facing strong criticism from the crypto community, citing concerns over potential security vulnerabilities and the need for more transparency. Hardware wallet company Ledger
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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
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Éric Larchevêque, the co-founder and ex-CEO of Ledger, a hardware wallet manufacturer, has spoken out in reaction to the cryptocurrency community’s widespread criticism of the release of Ledger Recover. Ledger is not flawed despite criticism Ledger Recover
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied According to a recent analysis by Messari, the XRP Ledger (XRPL) has had a productive first quarter of 2023. The number of daily active addresses and transactions has increased by 13.9% and 10.7%, respectively, all of which
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