Hello, I bought my LEDGER NANO X in 2018, how can I be sure this is not compatible with this back door? Now I have the 2.0.2 version of the firmware The community will appreciate a video to deepen this subject Thank you for your precious information
It’s “ok” but the update gives them the ability to export stuff…. So even if you don’t join the program you still have to update your software which automatically will give them the ability to pull your seed phrase regardless of your consent.
Do you have to opt in for the recovery service or can you opt out? If able to opt out than this whole issue is not really an issue unless they force you to participate? Right?
Probably not. The main concern is they’ve accidentally revealed that they have software that can extract your seed phrase from your device. The point of a cold storage wallet is to have your seed phrase stored offline so no one but the owner of the physical device has access to it… but ledger has access to all of our seed phrases apparently.
The software probably just splits the phrase up into 7 word shards, encrypts it then delivers it to the custodians. Is a new phrase written after agreeing or does the software access the phrase with permission. Is a seed phrase actually all it takes to gain access to a wallet or is another verification method used also?
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Just think, the government can subpoena ledger, and require them to hand over your seed phrase.
Hello, I bought my LEDGER NANO X in 2018, how can I be sure this is not compatible with this back door? Now I have the 2.0.2 version of the firmware
The community will appreciate a video to deepen this subject
Thank you for your precious information
If we didn’t subscribe to this service is our ledger ok?
It’s “ok” but the update gives them the ability to export stuff…. So even if you don’t join the program you still have to update your software which automatically will give them the ability to pull your seed phrase regardless of your consent.
It’s absolutely not safe.
@@mariog2233 yea but you have to allow them right? you have to "accept" in the ledger device to allow them to extract it.
YES 👍
the fact that we know now that they can access our seedphrase is very concerning. what happens to "not your keys not your crypto " ?
I’m using ledger is safe is update to new firmware? I don’t want use recovery
Do you have to opt in for the recovery service or can you opt out? If able to opt out than this whole issue is not really an issue unless they force you to participate? Right?
Maybe if they split the seed phrase to 24 different companies, it would be a good idea, but even then its still bad
OKe so it's still safe if you don't do the whole ledger recovery thing right.
Probably not. The main concern is they’ve accidentally revealed that they have software that can extract your seed phrase from your device. The point of a cold storage wallet is to have your seed phrase stored offline so no one but the owner of the physical device has access to it… but ledger has access to all of our seed phrases apparently.
Soon you will learn about Verus platform and forget the Ledger
That’s my name
Oh no
How do they get the seed frace do u have to tell them ?
The software probably just splits the phrase up into 7 word shards, encrypts it then delivers it to the custodians.
Is a new phrase written after agreeing or does the software access the phrase with permission.
Is a seed phrase actually all it takes to gain access to a wallet or is another verification method used also?
No!
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100% Real Talk real life experience the answer is NO