• 14 July, 2024
News

Ledger Defends Recovery System and Makes Claims Technically, Expert Predicts

Crypto wallet manufacturer Ledger faced severe backlash after its support team made a statement on Wednesday. The now-deleted tweet claimed that the company could extract its users’ keys by writing firmware that enabled key extraction. This statement has further worsened the public relations crisis for the company.

In a Twitter thread, Tron creator and Huobi investor Justin Sun supported Ledger, calling it a reliable partner repeatedly:

Responding to inquiries regarding Ledger Support’s latest wallet recovery service, the company made a few tweets that mighr have failed to alleviate its users’ apprehensions. The tweets implied that the company could compromise its clients’ assets but had not yet done so.

In a recent tweet, the company stated that its users have always trusted it not to deploy any firmware, regardless of their knowledge about it. At the end of the day, users must comprehend that any hardware wallet solution they opt for would always necessitate placing trust in the developer to construct and uphold a secure device for storing their assets.

Following the removal of the tweets, Chief Technology Officer Charles Guillemet took to Twitter to elucidate the matter and mitigate the impact of the initial tweets. In a recent development, a spokesperson from Ledger informed that the company could not extract users’ keys. It has been stated that the customers must authorize any action of keys before execution.

The spokesperson said in his statement,

Any action that interacts with a user’s keys needs to be approved by the user through their Ledger. We cannot extract their keys, and would not extract keys.

This week, the crypto community voiced their displeasure with Ledger’s “Recover” service because it goes against the company’s mission of privacy and security. The seed recovery phrase could be encrypted in pieces and backed up with third parties using the optional recovery service.

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