The contentious Recover service is launched by Ledger.

The contentious Recover service is launched by Ledger.Although users can choose not to use the feature, they are still concerned about possible government access.October saw an announcement from Ledger, a hardware wallet company. 24 announced...

The contentious Recover service is launched by Ledger.

The contentious Recover service is launched by Ledger.


Although users can choose not to use the feature, they are still concerned about possible government access.


October saw an announcement from Ledger, a hardware wallet company. 24 announced the launch of Ledger Recover, a contentious wallet recovery service, for users.


With the help of Recover, users can connect their unique ID to a fragmented and encrypted secret recovery phrase that is kept in three different companies.


The CEO and chairman of Ledger, Pascal Gauthier, tweeted:.


"This is the day,". I'm happy to inform that users of Ledger Nano X can now access our secure wallet recovery solution, Ledger Recover, which is offered by Coincover. ".


Ledger mentioned separately that the service's subscription is "not automatic. It stated that users had to authorize the backup procedure and pay $9.99 each month.


Users who worry about keeping their recovery or seed phrase on a piece of paper that is easily damaged are the target audience for Recover, according to Ledger. Ledger Recover asserted that its solution is more secure than centralized exchange wallets since it does not retain user funds like those centralized services do.


As Ledger puts it, the Recover service's low entry barrier is crucial to achieving "mainstream adoption around digital value.".


Recover still draws criticism.


Ledger has made an effort to reassure the community that Ledger Recover is safe, but the cryptocurrency community is still very critical of the feature.


Today, the Recovery service was advised not to be used by several community tweets. A lot of people cited previous remarks made by Éric Larchevêque, co-founder of Ledger, who said that the three companies involved might be forced to turn over recovery information under a government subpoena, giving the government access to user funds.


Remarkably, Larchevêque is now just a shareholder in Ledger and no longer serves in an executive capacity. Thus, Ledger itself has not backed up his conjecture.


Meanwhile, some users have expressed concern over the fact that regular firmware updates include the functionality supporting Recover even though it is an optional feature. This might cause security problems or make it possible for Ledger to add more backdoor access in the future.


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