Possible Privacy Issues in Ledger's Latest Update
Ledger is presently at the center of controversy following user reports related to its latest firmware update. It appears that this update includes a contentious subscription-based feature known as "Recover." The community is concerned as the feature is alleged to provide Ledger access to users' highly sensitive seed phrases.
Seed phrases are a critical component of cryptocurrency security, as they allow users to recover their digital assets if their wallet is lost or compromised. The core principle of hardware wallets like those provided by Ledger is to securely store these seed phrases offline, rendering them inaccessible to potential hackers. If the new feature indeed requires users to share their seed phrases with Ledger, this would undermine the inherent security of hardware wallets and potentially expose users to unnecessary risk.
Further raising concerns is the reported requirement for Know Your Customer (KYC) registration to use the Recover feature. This process purportedly necessitates users to submit a picture of a government-issued identification document. Such a requirement is seen as a serious breach of privacy by many in the crypto community, as it goes against the decentralized and anonymous principles upon which cryptocurrencies were founded.
Currently, these reports suggest that the subscription service and its accompanying KYC registration are only available to Ledger Nano X devices. The identity card requirement seems to pertain to users from the European Union, the United Kingdom, Canada, and the United States.
It's important to note that these allegations are based on user screenshots and have not been officially confirmed by Ledger.
Further raising concerns is the reported requirement for Know Your Customer (KYC) registration to use the Recover feature. This process purportedly necessitates users to submit a picture of a government-issued identification document. Such a requirement is seen as a serious breach of privacy by many in the crypto community, as it goes against the decentralized and anonymous principles upon which cryptocurrencies were founded.
Currently, these reports suggest that the subscription service and its accompanying KYC registration are only available to Ledger Nano X devices. The identity card requirement seems to pertain to users from the European Union, the United Kingdom, Canada, and the United States.
It's important to note that these allegations are based on user screenshots and have not been officially confirmed by Ledger.
