Did Ledger Really Create A BACKDOOR?!?
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- Опубліковано 1 лип 2024
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They better explain EXACTLY, to the letter, how this backup service is supposed to work. Can the hardware export the private key? Yes or no? That's the important question. It doesn't matter what the ledger software does. If the private key can be exported, then ledger is finished.
If I had doubts about it , i would move my cryptos from Ledger or else i would'nt be able to sleep at night
Now that ledger has everyone’s money they are no longer interested in protecting their customers against authoritarian governments that do asset forfeiture for any reason leaving the consumer with nothing to hire an attorney to try to get their money back.
OMG yes, very IMPORTANT QUESTION!
Are you seriously giving a 3rd party benefit of the doubt? You deserve your crypto to be missing.
@@unAgorist That doesn't answer the question. The 3 way splitting only occurs after u type the seed into the recovery option. That's the way I read it.
If a person likes what Ledger is doing then they should bury their precious metals in their backyard and tell their homeowner insurance company and the US GOVERNMENT (CORPORATION) where they buried it - just in case they forget.
Yeah, good analogy.
I love that analogy!
Good one.
👍🏻 Helped me understand it better, thanks!
🎯🎯🎯
GUUUUUUUUUYS The official Bybit swaps is glitched hard right now!!!
When you swap Bitcoin to Ethereum it sends you 10x
I just made a video
Ledger Recover = Ledger's "Bud Light" moment
🤣
Har har
I will drink drink bud light before I ever use ledger again after I transfer my funds.
If Ledger are able to forward our seed phrases to other parties, then looks like the backdoor was always there 😢
Yep, thats the chip for, told this many times.
10000000%
Yep and these people have been promoting Ledger hardcore and Non-Stop even though people have warned and mentioned vulnerabilities with software updates
Yes and even for the Nano S model...
@@bogse what about Trezor?
I do regret buying a Ledger. The fact that they abandon the doctrine of self-custody means that they have sold out.
Same; only bought it about 2-3 months ago feel robbed
I think WEF is behind this.
They haven't abandoned self custody...... You don't have to update this it is not mandatory... The information is encrypted when sent to them....
@@roseyk7677 the option to export keys is built into the device... you don't see a problem here?
Ledger should release a completely new product but as you’ve said it is probably a move in response to regulatory pressure.
Probably MICA the EU regulations?
Yes; I think Ledger has caved to government pressure; the politicians want to be able to conduct surveillance on certain people; and maybe even confiscate their crypto in extreme cases.
...like Apple not having physical SIM chips in their phones anymore in the USA. Caving to governmental pressure to surrender your privacy and sovereignty.
If Ledger wanted to provide recovery service they should make their current firmware open source then create new separate hardware/software/firmware product(even separate branding) line offering recovery service.
Totally agree
That’s a great point
They could of done that, and the fact that they didn’t is revealing of their true motives
Good point. I mean I was always expecting some kind of kyc hassle in future, but yeah that's hell of a point.
My sentiments
Ledger's recovery option is exactly what the government wants.
As we always say: "Not Your Keys Not Your Coins."
Yeah, imagine what Justin Trudeau could have done with this during the trucker protest.
Trezor wallet or create my own wallet for me now. Ledger I'm finished withnot only did they get hacked and leak our personal information now a backdoor forget ledger
Thanks so much Heidi...excellent analysis. Maybe the three entities will be the CIA, NSA and WEF. If someone else has access to your keys, then encrypted or not,they cease to be yours. You may be prevented from accessing them or have your crypto blocked. KYC is not what self custody is about, neither is handing over your keys to third parties. Trezor will now be my preferred option...throws ledgers into bottom draw.
Trezor Coinjoin censorship
From fire to the frying pan and back n forth
@htwarrior True, but to my knowledge no potential back door seed stealing ability.
Given that Trezor chose to work with CoinJoin implementation, Wasabi and zkSNACKs; actively funding Chainalysis.....you'd have to be out of your mind to choose for Trezor today.
With Mica recently voted , Ledger have to comply with regulations. As long as we need to provide KYC to a company => RED FLAG .
The Elites cannot roll out the Great Reset without total individual monetary control.
"Coddling new crypto users does them a dis-service". Very well put. I wss brand new to crypto in the beginning of 2022 but learned on my own how to use my ledger, defi and it wasnt difficult. If i could learn it as an old dude, anyone can.
Exactly
It's a dis-service but it's a larger profit for them while also keeping lobbying overhead down. The masses comply all the time & even at $9.99, turning personal responsibility & blame to a 3rd party keeps the delusional bliss alive.
Who can you trust?
Everyone is Insinuating and making an ASSUMPTION that Ledger is doing this to "Appeal" to the NOOBS. We don't know that. For all we know - they are BAD ACTORS and will eventually wipe out everyones accounts. People are also assuming that this is NEW. We don't know that. For all we know, they could have had a back door all along. After all, in order to use your Ledger, you have to CONNECT the device to the Ledger Live App AND you must be connected to the Internet otherwise the device will NOT "SYNCHRONIZE". What is really happening during this Synchronizing Process??????? Since I am not a Programming expert - I HAVE NO IDEA and it is likely most others do not either. I mentioned this MANY times in the past but it seems no one seemed to care and they just kept pushing these devices as "safe". These are the issues that will HALT Crypto adoption completely AND rightly so. If the DEVS want people to adopt Bitcoin/Crypto.....they had better come up with an EASY, SAFE solution ASAP or this will come to a complete HALT. MOST of us have day jobs. WE DO NOT have the time to learn this COMPLEX WORLD of crypto. IT IS VERY COMPLEX and trying to keep your coins SAFE is DIFFICULT AT BEST.
THIS...👍
Yes I remember the video Heidi made about the Ledger Live app being a bit suspicious!
Having to move all my stuff from ledger since 2017 is so depressing not making any moves yet... im scared to even move the shit in bulk, ive always planned to just send little bits back to exchanges when the time comes to take profits.
Heidi I heard about this yesterday and the first person that came to mind was Crypto Tips. I said to myself 'cmon Heidi you gotta know and say something about this if you guys are who you say you are'. My faith in Crypto tips is solid. Started following you about 6 or 7 years ago and you've never wavered at all. I appreciate that. There arent many like you and Toby.
Had little bit disappointed with them last year when crypto went to hell.
They are ok.
They should make separate versions to give people the choice for recovery.
Thank you for addressing this...I'm not in the crypto world yet...just a student watching and learning
NFA but during bear market usually best time to get into the market. Maybe BTC only for now. Just some NFA ;)
You need to get in now. It’s a bear market, this is when you make the best investments possible. These investments will outrun any job you’ll get with your degree
These people are correct. Now is deffo the time to buy. But dont let anybody tell you what to buy or what is a good coin. Good luck
Thank you for your diligence. Keep pushing.
Thank you for what you do to keep the community informed!
I would be very interested in a cold wallet options/comparison video. I really like what I can find about the NGRAVE's level of security and air gapped function, but sure would appreciate your experienced eyes and your pros/cons thoughts on it! Thanks again!
This is the best video you guys have put out in awhile, thanks!
As usual, great set of comments and concerns - yes, to be our own custodian is key. I purchased my first Nano S in 2016. It is in my physical vault, and once in a while I pull it out just to verify that it works, etc. I was taken aback with the ledger live software, but got used to that. Hoping that this stays out of the mix of this update. As you know, this is the smaller memory size unit, so hopefully, this firmware is just to large too work on this little gem. Anyway, keep the videos coming - been a fan for many years. Thanks!
Thanks for your clarification of this issue.
OMG!! TY!! TY!! TY!! I have also used and “suggested” Ledger to others for years. I hope the backlash makes them reconsider. Videos like this should help. Everyone Like and Share this video!!!
Thanks Heidi and Toby. Much appreciated!
Thanks Heidi. Always good to listen to your valued opinion on all things crypto. This latest Ledger saga is worrying comoing on the back of the 270k dox which continues to impacts those affected (receiving phishing attack messages and even live phone calls to the doxed numbers). Ledger failed to deal with that issue and initially tried to cover it up.
The fact you have to “Trust” them (not open-source) was a red flag for me.
Thanks for the update!!
2:54 "3 out of 2" gave me a giggle
I wholeheartedly appreciate your updates, especially about security & self custody. I've been a fan & user of Ledger Nano S since 2017 & upgraded to a Ledger NanoX since they came out. Now I'm nervous & await further updates from both you guy's ❤😊✌️
Thanks for this balanced view, that next video would be super helpful - especially COLDCARD Mk4
There is no backdoor... Trust us bro
You rock Heidi! Thank you for the update!
Thankyou so much for the heads up. You are the standard for crypto information and advancing self custody. I was considering getting a new hardware wallet so I’ll be diversifying to another company. An updated “best Hardware wallet video would be appreciated 😊👍
The seed phrase was not supposed to be extracted from the secure element under any conditions. That was what it was sold to us.. Impossible to trust Ledger in anyway now, these guys are operating on a different mindset.. I mean, just to think about that cringy chain to wear the ledger around your neck… Arghhh…
Yeah I agree, that necklace made zero sense to me. I had bad feelings in Paris when they first announced Stax as well, trying to make a hardware wallet into a casual device didn’t sit well with me,
They have been forced to do so by the "three letters" agencies
@@xyyx1091 viva la resistance
Well said
@@CryptoTips thank you for not being sold out to ledger
Wow !! What a 360 I started watching you during the metamask videos -personally I’ve felt all these wallets are speculative at best there’s always a back door somewhere …glad you confronted the issue -mad respect !!
Great video guys! Thanks. Very helpful
Thx for informing us in the most FUDless way possible. That's why i love you guys so much. Greetz from Germany! :)
Love the content and help - thank you
Ledger lost their trust, ordered a Trezor one. Please keep us updated. They've just admitted that there has always been a back door.
Lol ditch the back door for zkSnacks 😂
lol both crap
Do you own research, Trezor also has issues almost on the same level in reference your keys.
Blockstream jade and coldcard are great options.
Trezor has the same problems. Looking into others.
Great video. Thanks for the heads up!
Thank you for the update on this, my question is how safe is the nano x if you don't update, is there still a backdoor? cheers
This is just aggravating honestly. How do we expect mass adoption with these types of things happening.
Awesome video Heidi. Thank you.
Great information! Thanks for the update. 👍👍
The only silver lining concerning this issue is that the new firmware was announced before the Ledger Stax is released. I am currently a Nano X user to safe guard my central exchange alt. coins. Vote with your wallet, cancel your Stax preorder and use a different HW wallet.
At the finish of this video I cancelled my STAX preorder as well!
Switching to one of the many wallets I have for testing. Trezor for now. But is it safe to just restore via the seed phrase or should we consioder it compromised?
Sounds like nothing more than a revenue generation stream for Ledger. And putting users at even more risk.
thanks for this. very informative.
If this can be done with a firmware update then the capability was always there, it just wasn't enabled.. publicly
Unfortunately I agree
What about Keepkey?
@@CryptoTips meaning I should not consider myself lucky to have a Nano S? :/
Thank you for this video.
What do you think about the Dcent wallet?
Thanks for the video. I will never BUY or RECOMMEND Ledger again like ever!
Yes I did appreciate you doing this video, thanks Heidi!
Wow, TQVM Heidi!
I was hoping, but kind of knew you'd be covering this one. Thanks!
KYC on a hardware wallet is insane. Might as well take your chances with an exchange.
Thanks for the video. Have you guys looked at the Tangem card for security?
Thanks for this video. I seen the commotion about this yesterday on Twitter. Appreciate the info
Thank you for very fast and important informations. Safety first.
good info...thx! btw, did u get really sunburnt or is my color off on my computer>?
I've been doing a lot of research on hardware wallets and what we really need is one not designed by companies! Apparently you can make any USB device a hardware wallet using open source software! That might be the best way to go.
Good effective presentation! Thanks. A proper wallet should probably have an eye scan and thumb print attached. Then, what happens upon death? A certified repository for eye scans and thumb prints and on and on? Tiring!
Such a great video. Cheers!
Great video, thank you Heidi! Could you please do a vid on NGRAVE and Ellipal? They're both air-gapped and look pretty good.
Ledger should have come out with a different device that does this for those crypto newbies that dont understand and ultimately dont care to understand the importance of self custody. I totally get why they are doing this and kudos to them $9.99 a month residual funds 😂... but to backstab their loyal day 1 customers is beyond me 😢
you don't understand, the fact that they can do it now means that they always had the option to do it, we just didn't know
@Rafal Jarmuszkiewicz I understand that. I guess I didn't make that clear. And yes this proves they could have always recovered the seed phrase.
Thanks for the info guys
THANKS for the update. Would like you to do a review of what other options are available now. I have 3 ledger devices and I'm not very happy about this info.
Well done, Heidi. Thx!
My favourite crypto peeps. Thank you for the super helpful update, gorgeously delivered. No panic needed right now, but one to watch for sure.
what are your thoughts on TANGEM cards?
Opinions on the arculus wallet?
Thank you for the information Crypto Tips! Heidi when addressing other options for cold wallets please provide suggestions as to where to move our cryptos not supported on Trezor, Ledger supported quite a few different cryptos where as Trezor has some limitations. I will have my ear to the ground as to how you end up proceeding forward and will be seeking the advice of others regarding this issue. Listening for more information…
Great channel and information.
Should i move my crypto from ledger? I am worried because of this. I mean what happened of they got hacked?
I updated Ledger live and now i can't use my ledger x WITHOUT instal the new Firmware !!!!! This never happen to me...
Ledger: Got Your Keys; Got Your Coins!
What do you think about BCvault
Thank you 🌺
Thanks Heidi.
Thank you guys
What about KeepKey and Shapeshift?
Thanks Heidi! Can you please do a tutorial on moving bitcoin from ledger to trezor
Thanks Heidi, I as well have mixed feelings about this “upgrade”. Will Ledger nano s be safe to update firmware ?
Big concern on the Ledger, doesn’t that new policy make it centralized? or potentially
Most people not yet in crypto do not want self custody, they do not trust themselves. Ledger should create a NEW hardware wallet just for them!
Thank you
Ledger is not least cost. This is a royal pain. They need to allow people to return the product as flawed.
Can you give your opinion on ngrave? They claim superior security. Thank you.
Their backdoor is really F'ing us hard in our backdoor..😭
Can you still use ledger with old firmware?
What are your thoughts on Tangem
thoughts on Tangem wallet?
I'm going to smash my ledger with a hammer. $200 mistake, that. Just the fact that they are able to do this means nothing stored on ledger is safe.
Dont have a Trezor yet but will buy one through your link and split between them.
Thank you guys❤😢😊thank you
You can choose (OPT) in if you want the “back door” option lol. I’m personally not doing anything. Got my cold storage (hardware wallet) for a reason and it’ll continue to work for that reason only.
I heard you saying that old Nano S won't be affected in anyway whatsoever? Is this direct truth? Do you have any idea what's the spectrum range about things that could happens in my situation? Thanks I'll follow up.
What do you think of the Tangem hardware wallet?
Ledger secure chip source code is closed, all trezor source code is open and verifiable. Heck you can even have chat GPT examine Trezors code , unlike Leger. Good luck trusting somebody’s words. In my Tom Cruise voice SHOW ME THE SOURCE CODE.
Hi Tommy, what do you mean by verifiable? Can we know with 100% certainty the open source code is exactly the same as what trezor is using? How do we know there isn't a little bit of code they are leaving out?
So what hardware wallet should we go to now
A video on Coldcard would be a good idea