Anyone able to shed an informed light on how much

Question

Anyone able to shed an informed light on how much

of a risk the latest ledger revelations actually pose? Do i need to move my coins asap or is it actually less dramatic than it seems? And if they need to move anyone have any secure recommendations?

#amp #cryptocurrency #english

0

17.05.2023

9 ответов

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Sad Birdy ₳👑

Sovereign Nations
if you are running the 2.2.1 firmware then you hav...

So it’s…… optional?

0

17.05.2023

D B Автор вопроса

Sovereign Nations
if you are running the 2.2.1 firmware then you hav...

Thanks! Tbh I don't stress too much about the government (controversial in crypto spaces i know), and haven't updated my firmware in a while so am probably ok. Thanks again for taking the time to give such a full answer

0

17.05.2023

Sovereign Nations

Sad Birdy ₳👑
So it’s…… optional?

The "Restore" program is optional, you need to be on the latest firmware and opt-in to the program and provide some sort of KYC. But the issue many people have is if ledger has the ability to generate these backup shards and ship them out of the device then it might be possible for a government to be like "hey give us access to this wallet" and they could comply. I'm really holding my judgment until I understand if these backup shards can be made without me physically signing with the wallet. it would certainly be concerning if they can be made and sent without your knowledge. I just don't know if that is possible yet. I would guess we'll know a lot more in the coming days, so I'm just sitting tight on old firmware for now.

0

17.05.2023

Sovereign Nations

D B
Thanks! Tbh I don't stress too much about the gove...

Yeah me neither, not saying I will feel the same in the future but for right now I think there is a pretty small chance the FBI would want my amp.

0

17.05.2023

Sad Birdy ₳👑

Sovereign Nations
The "Restore" program is optional, you need to be ...

Thanks

0

17.05.2023

Sad Birdy ₳👑

Sovereign Nations
Yeah me neither, not saying I will feel the same i...

I haven’t updated yet, but wouldn’t we have to update this thing eventually lol

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17.05.2023

Sad Birdy ₳👑

What device are you moving to?

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17.05.2023

Sovereign Nations

Sad Birdy ₳👑
What device are you moving to?

not sure. I need metamask support so it would have to be one of these https://support.metamask.io/hc/en-us/articles/4408552261275-Hardware-Wallet-Hub

0

17.05.2023

Sovereign Nations · Accepted Answer

if you are running the 2.2.1 firmware then you have to make a decision sooner than if you are still running an earlier version. Even if you have updated I don't think there is any need to run around like the sky is falling. the risk is pretty low in my opinion but it's still there, so you can either take the risk or move your assets to another HW wallet (which probably has other pros/cons and risks). from my understanding the main risk would be if a government could force ledger to give up 2 of the 3 backup shards needed to generate the wallet. you also run the risk of a hacker being able to do the same though since there are 3 different physical locations the ability to hack 2 of them seems fairly unlikely. keep in mind all this is an opt-in service that cost 9.99 / month. so if you trust ledger then there should really be no risk at all, because the backup would never be made and sent to the 3rd parties. but this is where the issue is - because if it's possible then a 3-letter agency or government could apply pressure to get your wallet without you opting into this service. so, as i was saying you might want to look at other devices, or stay with ledger, or pass on the firmware update for a while and see what happens. depends on your risk profile. I don't think you need to take immediate action. of course not financial, security or life advice 😂

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