Instrumententafel Angst & Gier Bergbaubecken Geldbörsen Werben Facebook Twitter Telegram Reddit Youtube
Marktkapitalisierung:
24h Vol:
Kryptowährungen: 15672
Märkte: 88264
Crypto Currency Tracker logo Crypto Currency Tracker logo
ENG
EST
RUS
TUR
DEU
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRO
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VEF
VND
VES
VUV
WST
ZAR
ZMW
ZWL
Marktkapitalisierung
24h Vol
15672
Kryptowährungen
58.17%
Bitcoin Aktie
NewsBTC 2023-05-16 12:30:52

Is This Latest Ledger Firmware Update A Disaster In The Making?

Is This Latest Ledger Firmware Update A Disaster In The Making?

Ledger, the hardware wallet provider, recently upgraded its firmware to version 2.2.1. They introduced an additional safety net called the “Ledger Recover” that the crypto community is vehemently rejecting. While upgrades are critical considering the fast-paced nature of cryptocurrencies, Ledger is now being criticized after offering an option for users to store their seed phrases online. The hardware wallet manufacturer said this feature makes it easier for users to quickly recover their seed phrases in case they misplace them. The “Ledger Recover” Feature Rejected The subscription-based service called “Ledger Recover” effectively grants the manufacturer access to clients’ seed phrases; defeating the purpose of using a cold wallet in the first place. Related Reading: DOJ Crypto Task Force Goes After DeFi Hackers As Illicit Activity Soars The platform says Recover is an “ID-based key recovery service that provides backup” for seed phrases for coins like Bitcoin. Earlier, Ledger’s co-founder said Recover will split a seed phrase into three shards. A section is distributed to Ledger, Coincover — a crypto custody firm, and EscrowTech, a company that escrows codes. Therefore, if a user loses access to their cold wallet by misplacing their private key, two of the three custodians can combine their code to recover the wallet’s contents. While this could help, as it is designed, a cold or hardware wallet is non-custodial. Technically, it should be delinked from the internet. By default, Ledger wallet holders should always be responsible for their seed phrases. Seed phrases allow users to sign transactions confirming that they are the true owners. Whenever they are misplaced, the token owner losses access to all their coins. Although the “Ledger Recover” feature is a precaution, some even claim this move makes Ledger a “hot” wallet. A hot wallet is a cryptocurrency wallet connected to the internet and is often the target of nefarious agents. Whenever hackers strike, they aim to wipe clean assets stored in hot wallets like MetaMask or Coinbase Wallet. KYC Requirements And Learning From The Past Besides Ledger requiring access to private keys, the “Recover” feature demands that users verify their identity as part of the know-your-customer (KYC) rules. As part of this verification and compliance with KYC, users must submit their government-issued cards. Critics say this is against the principles of crypto that work toward preserving privacy and diffusing power from one entity. Related Reading: Ledger Scam: Scammers Mail Hacked Ledger Devices To Steal Crypto Trusting private identity documents to a centralized entity can be disastrous. In 2020, Ledger’s database was compromised, and hackers dumped hundreds of thousands of wallet buyers’ confidential information, including physical addresses. Hackers later used the same dumped details to target clients in an extortion campaign that affected even some of the top executives of Ledger. Feature Image From Canva, Chart From TradingView

Meist gelesene Nachrichten

Marktkapitalisierung
24h Vol
58.17%
Bitcoin Aktie
15
Heute Nachrichten
Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen