Community Criticizes Ledger’s New Wallet Recovery Feature

Ledger, a popular hardware wallet manufacturer, recently introduced a new feature that allows users to recover their wallets using a 24-word recovery phrase. While this feature may seem like a convenient way to restore access to a lost or stolen wallet, the community has raised concerns about its security implications.

The main issue with this new feature is that it requires users to enter their recovery phrase into a computer or mobile device. This means that if the device is compromised by malware or a hacker, the recovery phrase could be stolen and used to access the user’s funds.

Furthermore, some members of the community have pointed out that this feature goes against the core principles of hardware wallets, which are designed to keep private keys offline and away from potential attackers. By requiring users to enter their recovery phrase into a connected device, Ledger is essentially compromising the security of its hardware wallets.

In response to these criticisms, Ledger has stated that the new feature is optional and that users can still recover their wallets using the traditional method of connecting their hardware wallet to a computer and entering their PIN. However, some members of the community argue that this is not enough and that Ledger should remove the new feature altogether.

It’s worth noting that Ledger has had security issues in the past, including a data breach in 2020 that exposed the personal information of thousands of customers. While the company has taken steps to improve its security measures since then, the introduction of this new feature has raised concerns about whether Ledger is prioritizing convenience over security.

In conclusion, while Ledger’s new wallet recovery feature may seem like a useful addition, it has been met with criticism from the community due to its potential security implications. As always, it’s important for users to weigh the pros and cons of any new feature before deciding whether or not to use it.

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• Source: https://zephyrnet.com/ledgers-new-wallet-recovery-feature-sparks-community-backlash/