• Ledger, a cryptocurrency hardware wallet manufacturer, has faced several criticisms after reports of a wallet update that exposes seed phrases to the internet.
• Users have expressed their dissatisfaction and threatened to abandon the wallet.
• In response, Pascal Gauthier, the Chairman and CEO of Ledger has apologized and announced plans to open source code and delay their release until work is complete.
Ledger Shakes Up Security Landscape
Ledger, a cryptocurrency hardware wallet manufacturer has recently faced intense scrutiny from its users due to a wallet update reportedly exposing seed phrases to the internet. This development made funds stored in wallets less secure than those stored in hot wallets like Metamask. Consequently, users on various online forums like Reddit have expressed their dissatisfaction with the update and some have threatened to abandon their wallets altogether.
Recovery Feature Release Delayed
In response to this outcry, Pascal Gauthier, the Chairman and CEO of Ledger issued an apology for customers explaining that Ledger had no intention of surprising users with this seed phrase concern. He further promised that security would be prioritized by the company going forward as well as improved transparency which includes accelerating open-sourcing plans for operating systems such as core components of the OS and Ledger Recover. As part of this plan, Ledger decided to delay their release until all associated work was complete.
Code Goes Open Source To Build Trust Amidst Controversy
Gauthier also clarified that most of Ledger’s codebase is already open source but reiterated that open source does not necessarily equate to better security; instead it serves more as a transparency feature so developers and security experts can review code for maliciousness before deploying it into production environments.
Apologies From The Chairman And CEO Of Ledger
The statement released by Pascal Gauthier acknowledged how unexpected communication mistakes led customers astray regarding understanding cryptocurrencies such as “Ledger Recover” and future product offerings from the company. He went on to apologize for how this was communicated stating: “We apologize for the way this was communicated… We never meant to surprise you.“
In conclusion it appears that amidst controversy surrounding recent updates from Ledger affecting user experience with regards to wallet security; Pascal Gauthier has worked hard at restoring consumer trust by addressing customer concerns through apologizing for miscommunication while also planning improvements including accelerated open-sourcing plans which will help ensure code quality control before deploying products into production environments.