I couldn’t believe my eyes when I read about Ledger’s new feature, “Ledger Recover”. It’s a service that allows users to back up their secret recovery phrase online, and requires a passport or national identity card. This seems crazy for a hardware wallet provider, especially one that has previously suffered a data breach!
The release notes state that Ledger Recover is compatible with Ledger Nano X and available on Android and iOS running the latest Ledger Live version. Passports or national identity cards from the European Union, the United Kingdom, Canada, or the United States are currently required to subscribe to the service. This feature is concerning for a few reasons.
First of all, it’s risky to store such sensitive information online, especially with a company that has previously been hacked. It’s also concerning that it goes against the general advice of never sharing your seed phrase and never storing it online. This opens the door to a whole new level of crypto-related scams.
I’m really hoping that Ledger will reconsider this feature. It’s too risky and goes against the advice that we’ve all been given for keeping our crypto safe. Let’s hope that Ledger will come up with an alternative solution that is safer and more secure.