TBH, i am not on the list of people who have smashed their ledgers into pieces as the "Ledger Recover" updates is yet to be released and another reason is i own no ledger (haha), well, but i am also afraid of this, because at first when a person asks ways to save there BTC? we bluntly recommend them Hardware Wallets, Such as Ledger and Trazer, Even yesterday i have recommended a newbie to buy a Hardware wallet but other experienced members has already guided me with the situation. But, i think there is no good in making noise before its release because now we at least know that it's possible for ledger companies to break encryption in our HW. And, it is confirmed now, so the point is why not test it so that we can at least know the possibilities and scenarios it could make?

If Ledger can do that the razor might also do that? How to confirm that? my thoughts are we should not put all of our assets in one type of hardware wallet such as a ledger we should diversify them in different company's wallet addresses. or we should follow big icons like Micro Strategy's CEO Michael Saylor so that we can learn how they store there BTC for so long.

I think that Ledger messed up and now people look into other hard wallets. But I never used one, I'm keeping my Bitcoin with other coins in OWNR wallet since I don't have too much and keep my seed phrase on paper in 2 hidden copies.

The company is not forcing anyone to subscribe to the service. It is an opt-in subscription seed phrase recovery service that attracts $9.99 per month. You have the choice to choose whether to subscribe or not. So I don't see the reason why anyone should smash his or her hardware device.

It was officially launched yesterday.

I believe all the security parameters must have been checked but personally I still have my doubts and I don't feel comfortable having my seed phrase backed up on the ledger. At some point, an hacker can find a loophole to steal people's private seed phrase and funds.

To be honest, I don't own any Ledger product and I'm glad I didn't especially after their recent announcement about sharing the seedphrase backup with third-party entities. This decision kinda break the trust that has been built over years with their users.

I know that there's no funds have been stolen yet but this move is concerning because many people rely on Ledger devices to safeguard their life savings in Bitcoin. It's not something to take lightly; these users prioritize security and privacy. Personally, I prefer using an air-gapped device that I own and have full control over rather than relying on a hardware device released by a company that introduces updates that could potentially putting my funds at risk.

I value my ability to secure my funds and protect my private keys/seed phrase. I don't appreciate Ledger making decisions that assume otherwise.

The more I think about this announcement, the more shocked I get. This literally means that Ledger, its partner companies and governments will know the identity of hardware wallet owners and in case there is a need, they can seize funds of any of their user.
This move can change the situation for whole crypto market, I'm happy that critics come from every corner towards Ledger, wonder if there is a statement about this from Trezor and other companies in near future.

Every Ledger owner should immediately change their hardware wallet or find a different way to store their coins. I genuinely believe that there is a high chance that planned or accidental data breach may happen and everyone will lose their coins, nothing to say about compromising of your identity.

I'm finally confident to say that when it comes to bitcoin wallet creation, I prefer to stick with my very old computer than with any modern hardware.

Thoughts? Simple.

Don't update your firmware if you already own a Ledger, don't buy a Ledger if you don't own one. Buy a Trezor, preferably a Trezor One because it has lower attack vectors.

We can't trust a company which was breached in the past before. Plus how can we verify that they haven't already backdoored their devices?

Moving coins to a new wallet (not Ledger) and keep your Ledger wallet as a collectible. It might have some higher value in future when people look at history of Ledger and their wallet products.

They can change their minds and build new products, services but if they break basics to keep coins safely, it's bad no matter what types of product and service they want to build and release.

Just not yet. We don't know what will happen but fundamentally and technically, their latest movement is bad and it potentially causes something bad for their users.

Stop using it. Don't buy any new Ledger wallets in future.

I think that should not trust financial assets to anyone. There will always be a risk that the custodian, if he has the opportunity, will want to take someone else's.

Big hardware wallet manufacturers are gradually turning into a kind of banks. It looks like you are giving them your crypto for safekeeping and you have to trust them completely. Just for a word.

In the light of recent events (news about Ledger and Trezor), it seems that the time has come for people to reconsider their attitude towards hardware wallets. Where once these were reliable storage devices, security is now at risk. The most unpleasant thing about this is that the danger doesn't come from intruders or hackers, but from the manufacturer itself. It would seem that it sounds like nonsense, but we are all eyewitnesses of what is happening.

Only the owner should have access to the seed phrase and no HW device manufacturer has any right to claim it. It doesn't matter under what pretexts it is served.

I believe the Ledger company will come to its senses when people start avoiding their Ledger wallets.  It is really absurd offer/upgrade when most of the cryptocurrency gurus advise people to keep their wallets offline.  When veterans are informing people to keep their private key offline and keep away from the internet, ledger offers a service of saving private keys on cloud storage.  Are they nuts?  I think this action will kill the company, I hope it won't be late for them to readjust in the future.


I hope they listen to their community and revert back to the original idea and kick out the person who suggested that idea. 

People are making a huge deal about something that is not nearly as big as it is being sold to the misinformed. This added recovery feature, come as a subscription option and you have to pay for that, so not a lot of people are going to opt-in for that extra feature.

We know Ledger were hacked a few years ago.... and a lot of people's information were stolen.. then criminals used that data to launch targeted Phishing attacks on those clients.... so why will people trust them now?