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Home»Web 3»The backlash against Ledger’s “Recovery” service continues
Web 3

The backlash against Ledger’s “Recovery” service continues

2023-05-25No Comments1 Min Read
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TL;DR

Full story

Remember when we wrote about Ledger’s new $9.99 p/m “Recover” service last week?

The proposed service was intended to work as follows:

Ledger would take your password (a.k.a. “seed phrase”) and store a backup of it for you, so if you’ve lost your password, you can still access your crypto.

The fear was…

The service required you to provide ID, meaning if someone got their hands on your ID, they could access your crypto.

Not good. (And the backlash was severe).

So serious that Ledger decided to cancel the rollout of the service right away. With the CEO noting that it had been:

“A humbling experience of working with the community for future decisions.”

Good news for Ledger owners:

The company’s hardware wallets work fine without a $9.99 p/m recovery service.

So no loss!

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See also  XRP Price Continues To Consolidate Below $0.49: Here's The Timeline For When XRP Could Rise Above
backlash continues Ledgers Recovery service
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