Crypto wallet manufacturer Ledger has officially launched “Recover” option. Ledger CEO Pascal Gauthier announced on X (formerly Twitter) that the Recover option is now live on Ledger’s popular Nano X wallet.
The Recover feature serves as a backup for users’ recovery seed phrases—a vital component for regaining access to a crypto wallet. Seed phrases consist of a random string of 12 or 24 words, and the loss of these words could result in unrecoverable digital assets. While various methods exist for backing up seed phrases, Ledger’s approach has been met with controversy since its announcement in May.
Recover encrypts users’ private keys, duplicates them, and divides them into three pieces, each held by different entities: Ledger, crypto security firm Coincover, and an independent backup service provider.
Despite Ledger’s assurance of enhanced security, the announcement of this optional, paid-for service has reignited criticism from X users. Some argue that Ledger is essentially asking customers to pay for a service that potentially makes their private key more vulnerable, media reports said.
In response to the criticism, Gauthier reiterated that the Recover service addresses the demand from users who want assurance that their crypto holdings are not solely dependent on remembering a random string of words.
“Let’s be clear: too many people have lost their digital assets because they’ve lost their Secret Recovery Phrase,” he stated on X. “This risk stops people from using crypto, and certainly from using self-custody.”
