Cryptocurrency Analysis and News Portal
Self-custody is important in crypto, and security is essential to self-custody. Ledger, a notable hardware wallet manufacturer, has built its reputation on the secure storage of users’ private keys. Hardware wallets create a secure offline environment for storing keys and using keys to execute transactions.The user’s private keys are generated
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It’s counterintuitive for a CEO to defend a competitor, particularly when that competitor is rolling out a feature similar to one we pioneered years ago. But given the debacle around Ledger’s new “Ledger Recover” feature, it’s time to provide a balanced perspective.The company is under fire for releasing an update
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On May 18, crypto hardware wallet provider Ledger clarified how its firmware works after a controversial May 17 tweet was deleted by the company. The deleted tweet, which Ledger said was written by a customer support agent, had stated that it was “possible” for Ledger to write firmware that could
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While answering queries about the firm's new wallet recovery service, Ledger Support sent a couple of bizarre tweets which would have done little to assuage its users' concerns, suggesting that it could make its customers' assets vulnerable in any way it wanted to, but has (thus far) not done so. Source
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Amid fallout over Ledger’s controversial decision to allow private keys to be “recovered” from its devices, cold storage competitor GridPlus has announced that it will move to “open source” the firmware of its crypto wallets. GridPlus took to Twitter on May 17 to inform its 17,500 followers that it will open
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Hardware wallet maker Ledger is facing significant backlash for its recent introduction of a tool enabling users to back up their seed phrases through the transmission of encrypted key fragments to third-party firms. The crypto community has not embraced this new feature, with numerous digital currency users venting their frustration
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Around $100 billion a year or more could be saved if distributed ledger technology (DLT) was used in traditional markets, claims a new report from the Global Financial Markets Association (GFMA).In a May 16 report, the traditional finance sector lobby group, along with international consulting firm Boston Consulting Group (BCG)
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“Distributed ledger technology holds promise for driving growth and innovation,” said Adam Farkas, Chief Executive of GFMA, whose affiliates in the U.S., Europe and Asia count major players such as JPMorgan Chase, HSBC and Nomura among their members. Source
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“Ledger, the company that has experienced multiple security breaches that exposed the personal information of hundreds of thousands of its customers, now wants you to export your private keys from your hardware wallet and give fragments to them, Coincover, and an unnamed third party, where any two can siphon funds,”
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Several crypto community members, including Ledger wallet owners, have taken to social media to express their discontent following the release of Ledger’s latest feature. The newly introduced retrieval solution for its hardware crypto wallets, known as Ledger Recover, aims to offer a safeguard in case users misplace their seed phrase.Exciting
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