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 itshardware crypto wallets, known as Ledger Recover, aims to offer a safeguard in case users misplace their seed phrase.
Exciting update, Ledger has a new product, Ledger Recover, that’s launching soon: https://t.co/nT1VHnnSYz
Here’s what Ledger Recover is and what it isn’t, explained by @P3b7_ & in the thread below. pic.twitter.com/RW1w07H6pK
— Ledger (@Ledger) May 16, 2023
Ledger Recover is a subscription service that allows users to utilize an additional layer of protection for their private keys. This service employs a technique where the user’s seed phrase is divided into three encrypted fragments, each sent to different external entities. Once these fragments are combined and decrypted, they can be used to reconstruct the original seed phrase.
The wallet provider shared that Ledger Recover is an optional subscription for users who want to back up their secret recovery phrase. “You don’t have to use it, and can continue managing your recovery phrase yourself if that’s why you bought a Ledger,” the company explained.
Nevertheless, the concept has enraged many in the crypto community, including security…
