PSA: Ledger is officially a hot wallet. It can expose your seed phrase to third parties! (Confirmed on their sub)

I woke up to shocking news!

TLDR The ledger device actually can expose your seed phrase to the internet.

Initially it was a speculation and people were expecting updates. Eventually, we got them:

https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbyyfp

So yes, it’s a service your can opt for for “recovery services”, but the bottom line is that it can expose the seed phrase.

Ultimately, it’s a matter of the French government knocking on their doors and asking for it.

This actually makes your funds at Ledger less safe than on MetaMask. At least we don’t have a confirmation that other hot wallets can access or keep copies of the seed phrases.

Leger, it was nice while it lasted…

But it’s game over.

Edit: to the people downvoting my comments: I’m also a Ledger user. Have been using it for multiple years to store my crypto. I’m not happy that this happened and I hate the upcoming inconvenience of buying new wallets and sending crypto back and forth. But unfortunately, this is the reality.