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 to its wallet firmware that allows it to send a version of the wallet seed phrase to third parties. But the outrage feels out of proportion. The perception that Ledger is carelessly “sending seed phrases to a server” is fundamentally misinformed. Let’s be clear: The new system is opt-in only. There is no forced participation or hidden backdoor. The seed is locally split into three encrypted shards using Shamir Secret Sharing, a well-respected cryptographic process, and sent encrypted, a practice the industry has been familiar with for years.
One of the corporations hosting the shards is EscrowTech, a company we brought into the crypto sector four years ago. I’m confident that Ledger, despite our rivalry, can successfully implement a system that matches its claims. They’ve shown commitment and seriousness in the past, and there is no reason to expect otherwise now.
WTF is this real @Ledger ? this is unreal im literally getting sick
do you have any idea how much money your devices secure ???
have you been lying all…
