Ledger postpones its “Ledger Recover” service launch

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Pascal Gauthier confirmed that the hardware crypto wallet firm will not launch the “Ledger Recover” service for now, as customers are not happy.

Ledger is a popular crypto hardware wallet, known to provide highly decentralized & non-custodial crypto wallets. This crypto hardware wallet firm launched in 2014. Last week, the Ledger team announced the launch of “Ledger Recover”, so that customers can easily recover their crypto wallet private key in case of back-up loss. 

Ahead of the “Ledger Recover” service launch, many people started to criticize the Ledger firm. A Ledger support agent said that Ledger can extract the private key of the customers with the help of a new firmware but the Ledger team will never do the same. The ledger agent tried to maintain the trust level between Ledger & ledger wallet users but happened opposite.

On 23 May 2023, Ledger chairman and CEO Pascal Gauthier announced via Twitter space discussion that Ledger postponed the “Ledger Recover” services because of the conflict between Ledger & Ledger customers. 

The ledger executive also apologized for the miscommunication between the Ledger & Crypto community.

“It was not our intention to take people by surprise. So because of that, we understand the community’s direction and apologize for the miscommunication,” Ledger CEO said.

Further, the CEO confirmed that the Ledger team will release its firmware in the open-source domain & further will schedule the plan to launch the Ledger Recover service, when open-source will be auditable. 

Ledger’s backdoor

When people were talking against Ledger’s new service, many people claimed that there are possibilities that the Ledger firm can extract the private key of the users via a backdoor hole. 

Read also: Dash network is offline since last 24 hours 

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