It's no worth it at all. It can't be trusted. A Bitcoiner should have control over his assets, been able to recover when necessary.

Though, if there is no official announcement on the site, then there might be a reason for us to think that something is fishy here. Maybe, there could be a compromise, or maybe, they are still text running it's suitable functionality before they give an official announcement. But if they actually changed it and didn't give any announcements, then it's another thing to worry about. Whichever way, one needs to verify the mail and tye information from there site, and if it's not showing signs of trust anymore, one can switch. Of course, there are other reputable ones that's offers the freedom of seed phrase use.

It's probably from a scammer, if you got this in your mail it means they have your email address already so be careful not to click on any link in that mail address, I have also text someone from keystone and they said it's not from them.

Normally I would verify first before saying anything but I understand, it's still good that you decided to post this on here as few members were able to take it to the team so all good still.

I am sure that very soon the sender of this mail will ask for your recovery seed since they have expiring date on the mail, people who don't verify will panic about it and do something stupid.

It seems you’ve misunderstood what the backup cards are meant for. Their wallet packaging normally comes with x3 backup cards which are meant to write down your recovery seeds when you generate them.

They are planning on going seedless, which means the backup cards are useless and that explains why the mail included “no backup cards”.. Do you understand now?

When you mentioned online, either allowing the users to use their personal cloud backups or have a central server where every backup is shipped .. it doesn’t correlate with what they are trying to pass to their customers .

It’s either they are trying to be a custodian and handle the entire funds or they make your hardware your only backup(which fits more with what OP posted) Or it’s not from an official source..

No you did not understand what I am saying. There can be a wallet that is not having seed phrase and have a backup card, the card is not just a paper but it will contain the necessary information needed which can be used for backup and make use of scanning something on the card. But Keystone is not having something like this yet but it is very possible.

This is definitely something to be concerned about, but you should check and see if it comes from the official Keystone Wallet webpage.
If this message is coming from the website, then you should definitely be concerned because you don't have your seed with you, so it's natural to be concerned. However, you definitely don't want to make a mistake that will cause you to lose your coins, so it's important to keep the seed carefully so that you can recover it even if your wallet is shut down.
 You will have the seed phrase as long as you have control over your coins, but if you don't have a seed phrase to control, it will just be a useless wallet and you won't have control over your coins. However, you should be careful about this.

Keystone did not make any announcement regarding going to a wallet that will require no seed phrase. It is very possible that it is scammer that is targeting him.

If he is using Keystone and he got this kind of email, that means Keystone has let other parties known their customers information which is not something new to hardware wallet users.

It is not a problem, it is a transition, but it is a fake one which probably scammers are trying to use to scam him or hack his hardware wallet.

There will still be private keys, the only difference is that you cannot extract them from the wallet. Depending on how the system works, the private keys remain securely stored inside the wallet's chip and cannot be accessed directly by the user. Honestly, I think this type of wallet could create more problems than it solves. Yes, they are trying to solve the problem of people losing their seed phrases, but does a seedless wallet really solve the problem? At the very least, there should be a way to recover the private keys if something goes wrong, but with the seedless wallets, that will not be possible.

Electronic devices can fail or get damaged for many reasons, and losing access to your wallet could be just as serious as losing your seed phrase. I think we are focusing too much on solving the problem of lost seed phrases while overlooking the bigger issue of how users can recover their funds when something goes wrong.

I guess this is my post question to their official X.



Yes, I have a verification question regarding these emails to verify the authenticity of the emails being received by OP. Cause, at the time I made my first post in this thread, I did some searching and due diligence for the information but couldn't find any. I think it is already clear for OP; you can close the thread. OP could share some information in this thread as the last post before locking the topic.

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However, with these scam attempts, it leaves me with some questions. OP, did you really have a Keystone Hardware Wallet? If yes, how the one who tried phising you knowing you have Keystone Hardware Wallet. Leave me with 2 scenario:

• Keystone Hardware Wallet database for their customer is being leaked.
• Or you already leaked your self.

The phising knowing you own Keystone Hardware Wallet. Suggestion for OP, you already being on target list for Phissing/Malware/Sam with topic Keystone Hardware Wallet. Just my suggestion for you, for now never taking any information for wallet, hardware wallet from your emails.

What I am interested in knowing is whether the seed phrase can be recovered on other wallets, devices, and apps that are blockchain-recognised.

I bet the whole thing will have to undergo some amendments to see how they could provide users with privacy and security of funds as a hardware wallet company.