Ledger CEO Pascal Gauthier has issued an open letter addressing the recent announcement of Ledger Recover and how it was communicated to customers. In the letter, Gauthier acknowledged that the company’s communication mistake had caused concern among the crypto community and affected customers’ ability to understand the product’s role in the future of Ledger’s offerings.
Ledger Recover
The hardware wallet provider firm recently announced the launch of its new service, called Ledger Recover, which aims to provide users an additional layer of security by allowing them to store encrypted backups of their seed phrases with three custodians.
The opt-in feature will require a know-your-customer (KYC) verification. However, this move has been criticized by some crypto community members concerned about sharing seed phrases with anyone other than the wallet owner.
These concerns have raised questions…
