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Ledger Responds to Recover Reactions: ‘There Is No Backdoor’
Ledger, a leading provider of cryptocurrency hardware wallets, recently unveiled its latest update called Ledger Recover. This update introduces a new feature that allows users to subscribe to a recovery tool, which encrypts their seed phrase and distributes it among multiple custodians. These custodians can help users reconstruct their seed phrase after completing an ID verification process. While this feature aims to enhance security and provide a backup solution for users, it has sparked concerns and discontent among Ledger’s customers. In this article, we will delve into the details of Ledger’s new update, the reactions it has received, and the company’s response to address these concerns.
Ledger Recover: A New Update for Enhanced Security
Ledger’s latest update, Ledger Recover, is designed to offer an additional layer of security and peace of mind for cryptocurrency users. The update introduces a recovery tool that employs encryption techniques to protect users’ seed phrases, which are essential for accessing their digital assets. This tool allows users to divide their seed phrases into fragments and distribute them among trusted custodians. By doing so, users can recover their seed phrases in case of loss or theft of their hardware wallets.
