BROADCASTS.com

Ledger, the crypto industry\u2019s leading hardware wallet manufacturer, rolled out a new recovery feature this month that caused an uproar. The recovery service has dangerous implications for crypto self-custody, says Foundation Devices Head of Content \u201cSeth For Privacy.\u201d He joins the show to discuss the downsides of closed-source code and the security risks that come with compromising for mainstream adoption.\n\nListen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.\nShow highlights:\n\nhow Ledger Recover works and why it caused an outrage in the crypto community\n\nwhy the fact that Ledger\u2019s code is not open-source could be considered a problem\n\nwhat the concerns are about handing over additional data to Ledger\n\nhow darknet markets have always existed for fake ID verifications and how it relates to Ledger\u2019s new feature\n\nsome of Ledger\u2019s previous security lapses\xa0\n\nwhy introducing a trusted third party undermines one of Bitcoin\u2019s most central tenets\n\nwhether Ledger\u2019s move is a \u201cnet good for society,\u201d and whether people actually want a service like this in a hardware wallet\n\nwhether something will go wrong with Ledger in the future\n\nThank you to our sponsors!\n\nCrypto.com\n\n\nRailgun DAO\xa0\n\nStader Labs\n\nGuest\nSeth for Privacy, blogger and head of content at Foundation Devices\n\nBlog\n\nFoundation Devices\n\nTwitter thread on the logistics and risks of the Ledger recovery process\n\nLinks\n\nLedger CTO Twitter thread on Ledger Recover\xa0\n\nCoinDesk: Ledger Bats Back Criticism of New Wallet Recovery Service, CoinDesk\xa0\n\nUnchained: \u2018Backdoor\u2019 for Seed Phrases? Ledger\u2019s New Recovery Feature Spooks Users\n\n\nLedger Recover webpage\n\nHaseeb Qureshi\u2019s thread on the Ledger controversy\n\n\nPast Ledger security issues\n\nCoinDesk: Crypto Wallet Maker Ledger Loses 1M Email Addresses in Data Theft\n\n\nCointelegraph: Ledger data leak: A \u2018simple mistake\u2019 exposed 270K crypto wallet buyers\n\n\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices