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Tuesday, May 30, 2023

WTF Ledger? Right here’s a catastrophe in a position to happen… The recent Ledger Nano X Firmware introduces an approach to let them backup your seed.

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Ledger firmware

I will’t in fact think what I`m reading, this appears utterly crazy for a hardware wallet supplier to relief you to backup your seed phrase on-line AND give them your Passport/ID – especially one which has previously suffered an recordsdata breach! But, with todays most modern Ledger Nano X firmware (2.2.1) change, they’re introducing a carrier/feature known as “Ledger Enhance”. Strangely on the level of posting this, the firmware originate notes must always not yet on hand on their internet region, but it completely is very accurate (be taught about hooked up screenshot).

The originate notes dispute:

Beginning this day, you can subscribe to Ledger Enhance.

Ledger Enhance is an ID-essentially based key recovery carrier that affords a backup for your Secret Recovery Phrase.

Ledger Enhance is for the time being effectively good with Ledger Nano X and on hand on Android and iOS running the most modern Ledger Live model.

Within the within the intervening time, a passport/national identification card issued by the European Union, the United Kingdom, Canada, or the United States is required to subscribe to the carrier. We’re going to be able to be masking more worldwide locations and adding make stronger for more documents within the arriving months. Halt tuned.

As soon as more, I`m in disbelief about this. Apart from the dangers that they’re hacked again, aside from it flying within the face of by no manner sharing your seed, and by no manner storing it on-line, it opens the door to a total recent stage of crypto scammers!

Ledger, please rethink this.

Ledger Enhance

//edit to add more recordsdata

Extra recordsdata from a wired article. The confounder also confirmed on the ledger dialogue board that the seed leaves the machine. This seems like a form of multi sig, but accumulated…. Nope!

Ledger is making spirited to originate a recent carrier known as Ledger Enhance that splits a wallet recovery phrase—normally, a human-readable form of the non-public key—into three encrypted shards and distributes them to three custodians: Ledger, crypto custody firm Coincover, and code escrow firm EscrowTech. If any individual loses their recovery phrase, two of the three shards may additionally be mixed—pending an ID take a look at—to get get entry to to the locked funds. In fact, Ledger Enhance is an extra security to find; for the price of $9.99 a month, it takes the jeopardy out of crypto’s model of stuffing bucks below the mattress. It’ll be on hand within the UK, EU, US, and Canada and nearly about assorted territories later within the year.

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