In response to a week of intense criticism surrounding its new seed-recovery service, French wallet manufacturer Ledger has embarked on a public relations campaign aimed at addressing concerns and improving its approach.
“Everybody is very sad at Ledger when you yell at us. But it's okay because we get better, and we will always strive to be good servants of the community,” Ledger CEO Pascal Gauthier said during a Twitter Spaces session, according to CoinDesk.
In a number of interviews with the media, executives said that the French wallet manufacturer would implement more security safeguards and open-source some of its code. Ledger has been on a PR assault following a week of criticism surrounding its new seed-recovery service. This includes a Twitter Spaces event with Gauthier and an appearance by the same executive on CoinDesk TV the following morning. It seems that Ledger is ready to modify its strategy after listening to the critics.
Ledger received criticism after unveiling its planned key recovery service, which is what the "yelling" was about. With the help of a set of three custodians, including Ledger itself, the service will enable users to store an encrypted backup of their wallets. Many Ledger users and observers expressed concerns about the security of the proposed service due to potential cyberattacks, customer data leaks and Ledger itself abusing its position of trust.
Ledger sent a letter stating that it has changed its strategy after hearing the worries of its consumers and would now open-source the Ledger Recover code prior to the service's introduction. Ledger will also add an extra layer of security to the Recover setup: In addition to having the encrypted backup stored by three custodians, users will have the option of also creating a passphrase. This way, even if the custodians work together to recover the private key, they will still be unable to transfer funds without the passphrase.
The upcoming release of the open-source Ledger Recover code and the introduction of passphrase protection demonstrate Ledger's commitment to addressing the concerns raised by its users. The company's response serves as a valuable lesson for the entire crypto industry, emphasizing the need for transparency, open dialogue and a willingness to adapt in the face of criticism.
As Ledger moves forward with its modified strategy, all eyes will be on the company to see how these changes manifest in their future products and services. The crypto community eagerly anticipates a safer and more reliable user experience, where the benefits of convenience and security can coexist harmoniously.
