Ledger delays launching its key recovery service “Ledger Recover”

According to CoinDesk, Ledger CEO Blockingscal Gauthier has stated that Ledger will postpone the release of the key recovery service “Ledger Recover” until the open source code is released. Last week, Ledger announced a service called “Ledger Recover”, which splits the private key recovery phrase into three encrypted shards and has them stored by three custodians so that users can authenticate and recover their private keys. This feature has received widespread criticism from the crypto community.

We have decided to accelerate our open source roadmap! We will include as much of the Ledger operating system as possible, starting with the core components of the operating system, and then Ledger Recover, which will only be released after this work is completed.

Reference: https://www.coindesk.com/business/2023/05/23/crypto-wallet-provider-ledger-postpones-release-of-key-recovery-service-after-public-criticism/

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