@theymos - Time to update the current Ledger situaion @ Important Announcements?

BitCoinDream

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Quote from: theymos on May 17, 2023, 10:00:26 AM

I didn't look into this deeply, but my understanding is that it's opt-in. Do we know that people using Ledger are being put at significant additional risk just by upgrading their firmware, if they don't opt into any backup stuff?

Ledger compromised again. Embarrassed

https://twitter.com/Ledger/status/1735291427100455293

Hispo

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I am in favor of this proposal brought onto the table by OP. Not only because it is a measure by Ledger that goes against everything Bitcoin and decentralization stand for. But also because the magnitude and the size of Ledger as provider of Hardware wallets.

This is not a small independent provider which had this nefarious idea, Ledger is allegedly the biggest maker of those "security devices".

The more people we can make aware of the oxymoron they try to push down our throats, the better. And important announce should help enough. Sushi sad days for enthusiasts of HW. Sad

decodx

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I found a great post on Reddit that effectively summarizes the current state of affairs regarding the Ledger devices. All the points mentioned in the post appear to be factually correct, as far as I can tell:

Q: Am I dumb to stay with ledger?

A: YES.

This isn't just about typical pros and cons of this wallet or that wallet.

Ledger told us our keys never leave the secure element of our hardware wallets. They assured us no firmware update would enable our keys to be extracted from our hardware wallets.

Here's the promise they made, again and again, for years.

Quote

Hi - your private keys never leave the Secure Element chip, which has never been hacked. The Secure Element is 3rd party certified, and is the same technology as used in passports and credit cards. A firmware update cannot extract the private keys from the Secure Element.

SOURCE: @Ledger 8:12 AM · Nov 15, 2022

Now, they admit that was a lie:

Quote

yes a firmware update can extract the seed

SOURCE: u/murzika, Ledger Co-Founder, Former CEO, and Former Chairman

And because their firmware isn't fully open, we have no way of knowing if there's a backdoor to enable key extraction even if we don't opt in to their new key extraction service:

Quote

There's no backdoor and I obviously can't prove it

SOURCE: u/btchip, Ledger owner & co-founder

And it's not like we can trust their security.

Quote

Ledger wallet users face mounting home invasion and other scareware threats as hacker dumps private customer information online.

SOURCE: Cointelegraph, December 24th, 2020

What's the worst that could happen, aside from a hacker getting access to your keys due to another Ledger security breach?

Quote

If you are a Recover user and have your shard into safeguarded by third parties, then yes, a government could subpoeana them and get access to your funds. Using Recover gives you an easy recovery option and mitigates backup loss, but your assets could get frozen by the government

SOURCE: u/murzika, Ledger Co-Founder, Former CEO, and Former Chairman

Your assets could get frozen by the government. He said it.

Quote

As I said above, if you are referring to Ledger Recover, I said government could get access to the backups of a user, as it's only a matter of law and is about one user

SOURCE: u/murzika, Ledger Co-Founder, Former CEO, and Former Chairman

The government could get access to the backups of a user. He said it.

Quote

If you are referring to Ledger Recover, a joint government task force could access a user's recovery backup. I mean it's just a question of law, two shards could be subpoaned even if they are each in a different jurisdiction.

SOURCE: u/murzika, Ledger Co-Founder, Former CEO, and Former Chairman

So, to answer your question: Are you dumb to just stick with ledger through this whole mess?

YES.

Source: https://www.reddit.com/r/ledgerwallet/comments/13m77q2/comment/jkucji0/

Lucius

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Quote from: dragonvslinux on May 19, 2023, 07:35:48 PM

~snip~

Bitcointalk has no direct connection with Electrum either, but a warning to all users was still issued when a vulnerability was discovered that proved fatal for many. Although this is not an identical situation, people should be warned about the potential risk that comes with using hardware wallets given the new information that has come to light recently.

dragonvslinux

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Ultimately bitcointalk has no relationship, partnership or otherwise with Ledger. Therefore there is no reason for this to be an important announcement from bitcointalk, even if it is indeed an important announcement for Bitcoiners. The only announcements that are important for the forum directly are those related to it, such as Bitcoin Core updates (as this remains the official forum) or otherwise forum-based news.

dkbit98

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Quote from: examplens on May 17, 2023, 05:08:35 PM

Can we ever trust what people from Ledger say anymore?
Only a few months ago, they claimed something completely different.

I never trusted them after many fiascos they had, leaking customer information multiple times, low quality check of their devices, battery issues, short support for older devices, closed source, etc...
That being said, we should be very careful with all other hardware wallet manufacturers, they can turn on users and make deals with devil in a same way like ledger.
Big red flag should be when manufacturers start to collect millions and billions of dollars from different campanies.

Quote from: LoyceV on May 18, 2023, 01:34:25 AM

I hadn't seen this before, and it makes me wondering: if Bob would get their hands on Alice's Ledger, would it be possible to upgrade the firmware and upload it online? I always thought the whole point of a hardware wallet is to make it impossible for private keys to touch the internet, but now it's starting to look like an expensive hot wallet.

This is what ledger claimed before, but now they are changing tune with different ''song''.
They turned impossibility into new feature Roll Eyes

Quote from: theymos on May 18, 2023, 06:57:49 PM

It strikes me as very unlikely that anything related to this is going to cause widespread losses anytime soon, so I don't think that an Important Announcement is necessary.

Probably, but many people could still lose privacy, and mystery sharding encryption was never verified by anyone.

Quote from: theymos on May 18, 2023, 06:57:49 PM

I edited Ledger out of my "do not keep your money in online accounts" post. I still want to recommend some hardware wallet which is fairly easy-to-use, so I left Trezor in, even if it may not be perfect.

I think currently best open source wallet could be Passport by Foundation.
They are 100% Bitcoin only device with open source code and reasonable price compared to Trezor Model T.
No shitcoins liste there (unless someone makes community project support), and it's quality device assembled in US.

BitcoinGirl.Club

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Quote from: theymos on May 18, 2023, 06:57:49 PM

I edited Ledger out of my "do not keep your money in online accounts" post. I still want to recommend some hardware wallet which is fairly easy-to-use, so I left Trezor in, even if it may not be perfect.

It was the right move. We don't need anything that could create controversy.

Quote from: Lucius on May 19, 2023, 04:42:32 AM

Quote from: theymos on May 18, 2023, 06:57:49 PM

I'm not as bothered by the whole idea of an opt-in centralized recovery thing as a lot of people seem to be, but this quote in particular is pretty damning because it shows that Ledger was/is either incompetent or lying.

Unfortunately, they are both, there is no need to doubt that because their actions speak for themselves. Although it seems to me that there is something else, and that is the possibility that both companies that have positioned themselves as leading manufacturers of hardware devices suddenly make very strange decisions, possibly under someone's pressure. The US is waging its own battle against "cryptocurrencies", and it seems that the EU is not sitting idly by on this issue either.

I guessed it when I first discovered the discussion.

Quote from: BitcoinGirl.Club on May 16, 2023, 04:15:36 PM

Let me guess, it's those who are printing notes and doing everything from the tax payers money.

US, EU, Middle East, Australia, East Africa all are same. If EU was sitting idly then how would we see Chipmixer were down?

Synchronice

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Quote from: Lucius on May 19, 2023, 04:42:32 AM

Quote from: theymos on May 18, 2023, 06:57:49 PM

I'm not as bothered by the whole idea of an opt-in centralized recovery thing as a lot of people seem to be, but this quote in particular is pretty damning because it shows that Ledger was/is either incompetent or lying.

Unfortunately, they are both, there is no need to doubt that because their actions speak for themselves. Although it seems to me that there is something else, and that is the possibility that both companies that have positioned themselves as leading manufacturers of hardware devices suddenly make very strange decisions, possibly under someone's pressure. The US is waging its own battle against "cryptocurrencies", and it seems that the EU is not sitting idly by on this issue either.

EU is doing worse than any union or country alone, next direction is North Korea, see this Chat Control by the EU.

You know, a fortress can only be destroyed from the inside, this has been a strategy, a long-term strategy. Hardware wallets are a giant wooden horses, The Trojan Horses!

Lucius

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Quote from: theymos on May 18, 2023, 06:57:49 PM

I'm not as bothered by the whole idea of an opt-in centralized recovery thing as a lot of people seem to be, but this quote in particular is pretty damning because it shows that Ledger was/is either incompetent or lying.

Unfortunately, they are both, there is no need to doubt that because their actions speak for themselves. Although it seems to me that there is something else, and that is the possibility that both companies that have positioned themselves as leading manufacturers of hardware devices suddenly make very strange decisions, possibly under someone's pressure. The US is waging its own battle against "cryptocurrencies", and it seems that the EU is not sitting idly by on this issue either.

theymos

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It strikes me as very unlikely that anything related to this is going to cause widespread losses anytime soon, so I don't think that an Important Announcement is necessary.

Quote from: o_e_l_e_o on May 17, 2023, 12:34:00 PM

Tweet by Ledger from 6 months ago:

Quote from: https://nitter.net/Ledger/status/1592551225970548736#m

Hi - your private keys never leave the Secure Element chip, which has never been hacked. The Secure Element is 3rd party certified, and is the same technology as used in passports and credit cards. A firmware update cannot extract the private keys from the Secure Element.

I'm not as bothered by the whole idea of an opt-in centralized recovery thing as a lot of people seem to be, but this quote in particular is pretty damning because it shows that Ledger was/is either incompetent or lying.

I edited Ledger out of my "do not keep your money in online accounts" post. I still want to recommend some hardware wallet which is fairly easy-to-use, so I left Trezor in, even if it may not be perfect.

o_e_l_e_o

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Quote from: NotATether on May 18, 2023, 04:28:57 AM

I think we all know about the Wasabi debacle, but my goodness, Trezor is surveilling stuff too?

They have partnered with Wasabi and implemented Wasabi's permissioned and censored coinjoins directly in to Trezor suite.

NotATether

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Quote from: o_e_l_e_o on May 18, 2023, 04:13:56 AM

Why no important announcement about Trezor/Wasabi's government sanctioned surveillance and censorship?

I think we all know about the Wasabi debacle, but my goodness, Trezor is surveilling stuff too?

o_e_l_e_o

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I'm not going to rehash my statements from the main thread about this, as I've been pretty clear over there what a complete disaster this is and how Ledger have obviously been blatantly lying in the past. In my opinion no one should ever touch another Ledger device again.

However, why are we singling out this even for an important announcement? Why no important announcement about Trezor's unfixable seed extraction vulnerability? Why no important announcement about Trezor/Wasabi's government sanctioned surveillance and censorship? Why no important announcement about Coinomi sending seed phrases to Google servers? What about Block's hardware wallet which is specifically built on this exact idea of sending your seed phrase to a bunch of third parties? And if people are so concerned about the fact your private keys can be extracted from the secure element in Ledger wallets, then what about all the hardware wallets which don't even have a secure element in the first place? They are just as risky.

There are a plethora of critical vulnerabilities and horrible business decisions out there that we don't have announcements about. Why do we need an announcement about this one specifically?

NotATether

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Quote from: theymos on May 17, 2023, 10:00:26 AM

I didn't look into this deeply, but my understanding is that it's opt-in. Do we know that people using Ledger are being put at significant additional risk just by upgrading their firmware, if they don't opt into any backup stuff?

A rouge insider might publish a signed malicious firmware and Ledger Live app that simply extracts the seeds from the Secure Chip and sends them to their private server.

Quote

An even safer option, which you should definitely consider if you have a lot of crypto assets, is to use a hardware wallet such as Trezor or Ledger.

I'm starting to regret having this published in the latest bulletin and would rather have the bolded part deleted entirely.

LoyceV

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Quote from: theymos on May 17, 2023, 10:00:26 AM

I didn't look into this deeply, but my understanding is that it's opt-in. Do we know that people using Ledger are being put at significant additional risk just by upgrading their firmware, if they don't opt into any backup stuff?

I hadn't seen this before, and it makes me wondering: if Bob would get their hands on Alice's Ledger, would it be possible to upgrade the firmware and upload it online? I always thought the whole point of a hardware wallet is to make it impossible for private keys to touch the internet, but now it's starting to look like an expensive hot wallet.

Husires

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Quote from: digaran on May 17, 2023, 04:25:37 PM

Wait what? isn't a hard wallet self custody one? I never used one but if a third party has any control over the funds or their safety, people should dump them into trashcan. KYC for bitcoin wallet? Seems they are moving towards Eth foundation mindset.

There are many who think of bitcoin as an investment and are afraid even to keep the seeds, they think it is a big risk and therefore the idea of having a third party that enables you to get your money back will be attractive to many of these beginners.
It seems that most of the buyers of this HW are from these people, unfortunately the market is what moves these companies and not what you want.

Quote from: digaran on May 17, 2023, 04:25:37 PM

KYC for bitcoin wallet? Seems they are moving towards Eth foundation mindset.

Ledger Recovery will contain a form of identity verification

examplens

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Quote from: dkbit98 on May 17, 2023, 01:30:11 PM

They are also forcing firmware update that includes this ''feature'' so you can't escape this if you are using ledger nano X (for now).

This is what ledger co-founder aka reddit moderator btchip said:

Can we ever trust what people from Ledger say anymore?
Only a few months ago, they claimed something completely different.

Quote from: o_e_l_e_o on May 17, 2023, 12:34:00 PM

Tweet by Ledger from 6 months ago:

Quote from: https://nitter.net/Ledger/status/1592551225970548736#m

Hi - your private keys never leave the Secure Element chip, which has never been hacked. The Secure Element is 3rd party certified, and is the same technology as used in passports and credit cards. A firmware update cannot extract the private keys from the Secure Element.

digaran

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Wait what? isn't a hard wallet self custody one? I never used one but if a third party has any control over the funds or their safety, people should dump them into trashcan. KYC for bitcoin wallet? Seems they are moving towards Eth foundation mindset.

Never ever vouch for third party service providers, especially if they are involved with wallets!

BitcoinGirl.Club

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Quote from: Lucius on May 17, 2023, 11:59:25 AM

Quote from: BitcoinGirl.Club on May 17, 2023, 04:48:57 AM

~snip~
May be someone can link us the topic. Sorry I am not good at searching forum stuffs.

The link to the board is in the OP, and the topic you are referring to is at the very top -> Reminder: do not keep your money in online accounts

Thanks Lucius.

Quote

[...] if you have a lot of crypto assets, is to use a hardware wallet such as Trezor or Ledger.

https://bitcointalksearch.org/topic/reminder-do-not-keep-your-money-in-online-accounts-5421039
I would suggest theymos to edit the Ledger part. We don't want anything that is highly skeptical to trust. Not after what is happening right now surrounding the update from these scammers. I feel like they betrayed us all. We have no idea what they have in those close source codes. They can not be trusted anymore.

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Quote from: BitCoinDream on May 16, 2023, 02:32:47 PM

I guess, it would be worthwhile to give an update in Important Announcements and link it below the forum menu as Important Announcement for Ledger Users.

I don't think we need to have any ann in forum for that, everyone already knows what happened with ledger, and I was spreading truth about ledger for years Cheesy

Quote from: theymos on May 17, 2023, 10:00:26 AM

I didn't look into this deeply, but my understanding is that it's opt-in. Do we know that people using Ledger are being put at significant additional risk just by upgrading their firmware, if they don't opt into any backup stuff?

Nobody knows what the heck is going on in that closed source black box, and they publicly admitted that encrypted shards will be sent to different companies (read partners) but people can choose to opt out.
Problem is that we don't know how all this crap works, since everything is closed sourced, so we have to trust their hidden encryption, and people will have to perform some kind of KYC and send personal documents.
They are also forcing firmware update that includes this ''feature'' so you can't escape this if you are using ledger nano X (for now).

This is what ledger co-founder aka reddit moderator btchip said:

Topic: @theymos - Time to update the current Ledger situaion @ Important Announcements? (Read 639 times)