{"id":78829,"date":"2023-05-16T18:10:58","date_gmt":"2023-05-16T15:10:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78829"},"modified":"2025-09-11T07:34:46","modified_gmt":"2025-09-11T04:34:46","slug":"ledger-to-add-seed-phrase-recovery-option-to-nano-x","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ledger-to-add-seed-phrase-recovery-option-to-nano-x\/","title":{"rendered":"Ledger to add seed-phrase recovery option to Nano X"},"content":{"rendered":"<p>Ledger, the maker of hardware wallets, unveiled a tool that lets users back up their seed phrase to regain access to the Nano X.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Exciting update, Ledger has a new product, Ledger Recover, that\u2019s launching soon: <a href=\"https:\/\/t.co\/nT1VHnnSYz\">https:\/\/t.co\/nT1VHnnSYz<\/a> <\/p>\n<p>?Here\u2019s what Ledger Recover is and what it isn\u2019t, explained by <a href=\"https:\/\/twitter.com\/P3b7_?ref_src=twsrc%5Etfw\">@P3b7_<\/a> &#038; in the thread below. <a href=\"https:\/\/t.co\/RW1w07H6pK\">pic.twitter.com\/RW1w07H6pK<\/a><\/p>\n<p>\u2014 Ledger (@Ledger) <a href=\"https:\/\/twitter.com\/Ledger\/status\/1658458714771169282?ref_src=twsrc%5Etfw\">May 16, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The decision to use Ledger Recover subscription service is up to the user. The tool splits the Secret Recovery Phrase into three fragments, which are stored encrypted by three separate entities.<\/p>\n<p>If needed, the wallet owner can access the backup of the phrase to recover the private key via identity verification.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cNon-custodial storage remains and will always be our core principle. The idea is that it\\&#8217;s your choice \u2014 you can manage your assets yourself or have a backup with Ledger Recover,\u201d the company stressed.<\/p>\n<\/blockquote>\n<p>The feature will launch &#8216;soon&#8217;. According to <a href=\"https:\/\/www.wired.co.uk\/article\/ftx-crypto-investors-hardware-wallets\">Wired<\/a>, the service will cost $9.99 per month, with custodians Ledger, Coincover and EscrowTech. Initially, access will be granted to users in the United States, the United Kingdom, the EU and Canada.<\/p>\n<p>The announcement drew mixed reactions in the community.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis is a terrible idea, DO NOT enable this feature,\u201d urged Mudit Gupta, Chief Information Security Officer at Polygon Labs.<\/p>\n<\/blockquote>\n<p>The expert warned of the risk that encrypted fragments are stored by three firms that could, in theory, reconstruct the keys themselves.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Ledger just released a new update for Nano X that allows social recovery of your seed phrase.<\/p>\n<p>It encrypts your seed in 3 shards and sends it to different entities that can then reconstruct the seed for you post ID verification.<\/p>\n<p>It\\&#8217;s a horrendous idea, DO NOT enable this feature. <a href=\"https:\/\/t.co\/2E1GSuYN5r\">pic.twitter.com\/H31NHShhyZ<\/a><\/p>\n<p>\u2014 Mudit Gupta (@Mudit__Gupta) <a href=\"https:\/\/twitter.com\/Mudit__Gupta\/status\/1658368265687556097?ref_src=twsrc%5Etfw\">May 16, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cGuys, what are you doing? This is moving quickly in the wrong direction. I would not recommend anyone to upgrade to such firmware,\u201d said the crypto investor going by the handle DCinvestor.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">hi <a href=\"https:\/\/twitter.com\/Ledger?ref_src=twsrc%5Etfw\">@Ledger<\/a>, it\u2019s concerning your software &#038; hardware wallets will soon be capable of sending a private key across the internet for opt-in sharded backup<\/p>\n<p>wtf are you guys doing? this is going in the wrong direction fast<\/p>\n<p>i would recommend no one upgrade to such firmware<\/p>\n<p>\u2014 DCinvestor (@iamDCinvestor) <a href=\"https:\/\/twitter.com\/iamDCinvestor\/status\/1658446907746680833?ref_src=twsrc%5Etfw\">May 16, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The feature contradicts the core value of the company&#8217;s product \u2014 self-custody of assets.<\/p>\n<p>Co-founder Anton Bukov of 1inch spoke similarly. In his view, Ledger violates the fundamental safety premise for a hardware wallet that \u201cshould have no API to expose the seed phrase\u201d.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cOMG, @Ledger is breaking the main hardware wallet security assumption that \u201cit should have no API to expose seed phrase (private key)\u201d\u201d<\/p>\n<\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As reported in March, the company announced the <a href=\"https:\/\/u1f987.com\/en\/news\/ledger-expands-series-c-funding-round-at-e1-3bn-valuation-about-1-42bn\">expansion of its Series C financing round<\/a> in the wake of <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-collapse-drives-record-hardware-wallet-sales\">rising sales<\/a> after <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">the collapse of FTX<\/a>. Ledger is valued at \u20ac1.3 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ledger unveiled a tool that lets users back up their seed phrase to regain access to the Nano X.<\/p>\n","protected":false},"author":1,"featured_media":78830,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[961,1640],"class_list":["post-78829","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-hardware-wallets","tag-ledger"],"aioseo_notices":[],"amp_enabled":true,"views":"47","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=78829"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78829\/revisions"}],"predecessor-version":[{"id":78831,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78829\/revisions\/78831"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/78830"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=78829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=78829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=78829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}