Ledger Delays “Recovery” But Leaves More Questions Unanswered
In case you’re out of the loop on this one, allow me to give you a quick breakdown on what’s been going on the crypto verse for last few days. Feel free to skip this paragraph if you’re already aware of the lore.
Ledger entered a PR disaster recently as the industry leader in Non-Custodial Hardware wallets for storing cryptocurrency kicked up a storm following the announcement of its “Ledger Recover” plan, a solution meant to help users recover their seed-phrase in case they somehow misplaced it.
The news was met very negatively by the crypto community as this implies direct access to seed phrase and more attack vectors, at which point, Ledger’s twitter intern had a true “hold my beer” moment and tweeted (in a now deleted tweet) that it was technically always possible to extract keys from the device.
In addition to this, Ledger also confirmed that the government could technically seize crypto out of accounts who have opted into Recovery by subpoena-ing them.
For more context and details into the origin story, check out my previous article.
In my previous article I actually called it. I said that Ledger effectively decided to commit seppuku in a similar way to Onlyfans, when they said they were going to ban porn from their website. The temporary lapse in judgement was quickly dismissed by Onlyfans, and the did a 180 and apologized to all the sex workers and the millions of simps using the platform.
Well, it turns out that in a series of tweets as well as a twitter space, which no doubt were both attempts at limiting the considerable damage that their trust and reputation suffered over the past few days, Ledger announced that they are officially delaying the release of the “Ledger Recovery” system, until it has been officially open sourced.
It’s a delay, it’s not a complete 180, and there’s also no apology so it’s not exactly like the Onlyfans situation but it’s pretty close.
In fact, Ledger once again tripled-down on an idea that absolutely not a single person embraced with the following statement: