Do not use ledger recovery service.
215 sats \ 6 comments \ @btcthinker 20 May 2023 bitcoin
Do not use ledger recovery service.
This service does not guarantee that your bitcoin will not disappear, it just ensures that you can use the seed backed up in the cloud to be restored on any ledger.
You may be cracked when sending encrypted fragments due to viruses or Trojan horses in the computer, or cracked when restoring. This is a problem with your computer, not the ledger. The ledger only ensures that your seed can be recovered, it does not guarantee that there are bitcoins in it.
The insurance mechanism will not compensate. If you can prove that the storage organization leaked the private key. When this happens, the company is doomed to go bankrupt, and I don’t know how it will be dealt with in the end.
Even if the insurance claim is obtained, the insurance company will only compensate the legal currency and will not compensate Bitcoin. And it is possible to get compensation after many years of litigation, and even you have to go to the court identified by ledger for legal proceedings and even provide evidence. This is completely bad for consumers.
Don't forget that Mt. Gox and FTX related legal action is still going on, those who suffer losses can only watch the price of bitcoin go up.
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213 sats \ 4 replies \ @thepenguinva 20 May 2023 freebie
I've been reading so much about this lately. The former CEO of Ledger had a great commentary on the other upvote site but basically, any hardware wallet can be hacked. It's just the way they work. Even trezors.
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105 sats \ 0 replies \ @1satis1sat 20 May 2023
Everything can be hacked, there are studies out there to decrypt data from the noises and vibrations a hard drive makes on an 100% air gapped system. The thing is, not many people can execute this complex technics, something being hackable isn't an excuse to make it easier to hack
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221 sats \ 2 replies \ @sudonaka 20 May 2023
cope harder dumbass. they is no excuse to upload private keys to internet from hardware device which explicitly exists to avoid that exact thing
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24 sats \ 1 reply \ @thepenguinva 20 May 2023
Wait, am I the dumbass or the CEO? If me... I don't own a ledger. I'm not coping with anything, just sharing an interesting comment. Perhaps you need to touch a little grass.
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5 sats \ 0 replies \ @sudonaka 21 May 2023
My ass is on the grass daily stacking sats peace and love
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4 sats \ 0 replies \ @At 20 May 2023
Do not use Ledger.
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