Ledger Recover Criticism & Why Hardware Wallets Are Still Safe

Our Head of Research, Matt, explains Ledger Recover, a new opt-in service offered available for owners of certain Ledger hardware wallets. He explains why the announcement of Ledger Recover was met with heavy criticism and confusion among the crypto community.

Other topics discussed include the risks of Ledger Recover, why it the service may be appealing to some people, and whether Ledger the company will be able to survive this heavy backlash.

Timestamps:

00:00 Intro

00:23 Ledger Recover

01:43 Community Backlash

03:59 Are Ledgers Safe?

06:19 Tradeoffs

07:35 Ledger's Miscommunication

11:05 Don't Panic & Await Clarity

12:40 Form Your Own Opinion

13:49 Security Self-Audit

14:11 Outro