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.
Topic: Ledger hardware wallet offering custody for seed backups - page 3. (Read 400 times)
There are two thread has been created about this particular discussions:
1. ALERT Ledger Secure Element
2. Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities
You can check yourself there are many users have giving their own opinions.
My opinion is people need to consider to set up their own cold storage rather than trusting a centralized company to create a hardware wallet. Right now, trezor looks safer than ledger, but no one knows what trezor will do in the future.
1. ALERT Ledger Secure Element
2. Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities
You can check yourself there are many users have giving their own opinions.
My opinion is people need to consider to set up their own cold storage rather than trusting a centralized company to create a hardware wallet. Right now, trezor looks safer than ledger, but no one knows what trezor will do in the future.
I think that Ledger messed up and now people look into other hard wallets.
People in this forum, not sure with people outside this forum because most of them didn't even own hardware wallet and learn about non custodial wallet. 
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.
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.
They’ve betrayed trust & destroyed the whole reason people buy & use them. It’s a disgrace to be honest, I have to wonder if this is some kind of regulatory pressure from governments. I just can not believe they would implement something like this. There are points of failure in most ways to HODL your coins but this is ridiculous. A sad sight tbh, not good.
A lot of people are smashing their ledgers into pieces when they announced a service to custody people’s seeds. This sparked outrage because it makes it possible for the secret seed to be extracted from the device.
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.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.
It was officially launched yesterday.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?
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. 
The complete privacy and anonymity of Bitcoin were what we thought initially, but what we thought was untraceable later become known to be traceable. For the issue of the seed phare, I've always been wondering if wallets could truly be truthful in their saying that they did not know your seed phrase. Although this is the first place I would read about this, it was the ordinal consideration that was my headache with Ledger before I read this.
If it's true, then one should be so careful of their Bitcoin in wallets, it will now be the integrity of the wallet you are using that can safeguard your Bitcoin. And it would surely prove that many of the supposed hacking of the past where BTC were stolen might not be truly hacking but the wallet propaganda to steal coins from one's account.
If it's true, then one should be so careful of their Bitcoin in wallets, it will now be the integrity of the wallet you are using that can safeguard your Bitcoin. And it would surely prove that many of the supposed hacking of the past where BTC were stolen might not be truly hacking but the wallet propaganda to steal coins from one's account.
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.
That's why I stopped using Ledger. It's literally the opposite of what crypto should be. And it's sad where this is all going. It feels like soon all exchanges and wallets will be centralized and there will be no more freedom and anonymity.
So for everyone who is using Ledger and thinks that this update won't touch you, just know that this means that Ledger HAS the technology to KNOW your seed phrase. It means it saves it somewhere and can back it up even without your agreement if needed.
So for everyone who is using Ledger and thinks that this update won't touch you, just know that this means that Ledger HAS the technology to KNOW your seed phrase. It means it saves it somewhere and can back it up even without your agreement if needed.
A year ago or so they claimed it’s impossible for the seed to leave the device and now they are claiming it’s possible.
No funds were stolen but it seems that hardware wallets aren’t as safe as people assumed. The biggest issue here is that it’s not open source and no one can verify if it’s actually secure.
What are your thoughts?
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? No funds were stolen but it seems that hardware wallets aren’t as safe as people assumed. The biggest issue here is that it’s not open source and no one can verify if it’s actually secure.
What are your thoughts?
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.
A lot of people are smashing their ledgers into pieces when they announced a service to custody people’s seeds. This sparked outrage because it makes it possible for the secret seed to be extracted from the device.
A year ago or so they claimed it’s impossible for the seed to leave the device and now they are claiming it’s possible.
No funds were stolen but it seems that hardware wallets aren’t as safe as people assumed. The biggest issue here is that it’s not open source and no one can verify if it’s actually secure.
What are your thoughts?
A year ago or so they claimed it’s impossible for the seed to leave the device and now they are claiming it’s possible.
No funds were stolen but it seems that hardware wallets aren’t as safe as people assumed. The biggest issue here is that it’s not open source and no one can verify if it’s actually secure.
What are your thoughts?
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