Ledger hardware wallet rolls out cloud-based private key recovery tool
Ledger emphasized that the ID checks required for its private key recovery tool are not like KYC checks as they require “much less” information. Hardware wallet firm Ledger is rolling out its cloud-based private key recover y solution despite facing significant criticism from the crypto community. Ledger Recover, an ID-based private key recovery service for the Ledger hardware wallet, is launching on Oct. 24, the firm officially announced on X (formerly Twitter). The release comes in conjunction with Ledger finalizing the open-source code for the Ledger Recover on GitHub. Provided by blockchain protection platform Coincover, Ledger’s seed phrase recover y solution is a paid subscription service allowing users to backup their Secret Recovery Phrase (SRP). SRP is a unique list of 24 words that backs up the private keys and gives users access to their crypto assets. Ledger Recover was designed for users who “want to add an enhanced layer of resilience” in case their SRP is ever lost ...