#Ledger #CEO #Evades #Answer #Potential #Subpoena #Response
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Refuses to answer = the answer isn’t good
Well bois Ledger CEO itself confirmed the fall of he’s empire… that it
They already confirmed they will respond to subpoenas on the what bitcoin did podcast
Them evading the question is a clear sign that they will side with the authorities when push comes to shove.
Ledger’s CEO just did this to their customer’s trust.
“If you can’t convince them then confuse them”
[email protected] Try to get a refund and cancel pre-orders.
At the end the company has to comply, or pay high fees in case they are not following government rulings… Or maybe just establish a new headquarters in a different jurisdiction… Oh almost forgot that the US may be reaching out to any company as soon as they provide services to their citizen’s.. that’s what we see with exchanges..
Kind of tricky situation.. I guess it’s naive to think such questions are easy to answer..
First off, Ledger CEO is not a damn lawyer so he wouldn’t know the answer – it’s outside his expertise. You guys are missing the important distinction though. No company has a choice whether to respond to a subpoena. They freaking have to. Don’t hate on Ledger for doing what they are legally obligated to do. If they have the info, they have to provide it. Period. Obviously, if they have your KYC they have to produce it in response to a subpoena. Just like Binance, or any other exchange that has your KYC would.
Presumably, if you haven’t opted into the recover service, then Ledger doesn’t have your KYC info as applies to a specific wallet. But the concern remains, does the Ledger have access to your key from when you first created a wallet, is there a back door? Can a firmware update give them access even if you don’t opt into the recover service and even if they don’t know your name and KYC info. If so, a government could force them to provide the key to that wallet even if they don’t know the identity of that wallet owner potentially (although the owner of any given wallet address can probably be identified since you have to purchase crypto initially (most likely) on a KYC exchange and then transfer it to that wallet address).
So this is the real question – without opting into recover, is ledger capable of producing the key to any wallet that was created on a ledger device if a government subpoenas the key to that wallet? Or are they like Apple, in that they do not have the ability to unlock passcode-protected phones and they would not create a way because creating a backdoor that would allow the company to access locked devices would compromise the security and privacy on which its customers rely. Open sourcing the code will help give us all comfort, but Ledger should already know the answer. It better be no, but the fact that it hasn’t clearly been said is concerning.
Of course they would it’s not like they have any choice in the matter
>They also committed to accelerating their open source roadmap.
They **cannot** open source their secure enclave, so this will hilariously blow up in their faces. Grab the popcorn..
Their open source *roadmap* is just them explaining how it works, with the distant endgame of creating modular (opensource) software that works with Ledger (like Ledger Live/Recover).
The secure chip which may be broadcasting your and everyone’s private key cannot be open sourced. Ledger has signed NDAs to never expose that code, it is required to use those chips and the industry standard. As long as that black box is inside there, a Ledger cannot ever be opensource. We will never have any idea if the opensource commands unlock something nefarious within the black box firmware or not. At the end of their roadmap will still be a giant, trust me bro.
But, of course, classic Ledger they called it open source anyway because that’s what people are demanding from them. Another communication fuckup on mastery levels, it’s almost worth applauding. Now just wait for Twitter to figure this out.
I would like to say they can be as trusted as they always were, nothing technically changed. With how badly they’re rolling this out, the CEO is clearly a doofus, and if we have to trust *him* I am not so sure anymore.
And yet another Ledger episode. Sorry, but I already moved to another hardware and not interested in their clarification.
C’mon guys, you’re overacting. I’m sure ledger is a perfectly trustworthy company. Why would anyone hesitate to store their net worth on a ledger and give them the keys? It’s not like they’ve ever been hacked or leaked vital info before. Self custody is a meme. I look forward to the day when I can store all of my crypto assets at my small community bank. So what if said bank is owned by J.P. Morgan?
He can’t really refuse to answer to a subpoena. Of course he would comply. Stop giving money to those crooks. If you are smart enough to use a ledger, you are most likely smart enough not to use one and have a paper wallet and good IT safety skills.
How many more examples do you need at this point?
The fact the capability exists independent of Ledger’s consent is enough to be worried. All state sponsored hacker groups will be after an exploit. Likely will be spearfishing at first, regardless this is a feature that was implemented without maximum security in mind.
Legally, you would think they’d have to unless they fought the subpoena in court
Ledger committed suicide.
Rest in peace. Time to move on.
RIP ledger
Him refusing to answer is already an answer, we all know the answer, he just didn’t want to say it out loud imo
This is literally an impossible question. Wtf do you even expect him to say?
Like if a bank was subpoenaed for your safety deposit box..what exactly do you expect them to do?
Answers question
Source: Trust me bro
I already lost all my trust to Ledger
This isn’t good for Ledger but I have already invested in their platform so I will continue to use it, you can almost guarantee their competitors have the same access and will comply with the government requests so why change
>We will include as much of the Ledger operating system as possible
Making such careful statements already makes me question how serious they are about it. Publish everything or watch your company go under.
🙄 if you operate a business in a country you’ll be subject to the laws of that country which includes subpoenas. To use their service (you don’t have to) the shards are split between three companies in three different countries. That means they need at least two subpoenas for two foreign companies. The hilariousness of you my memecoin owners is you think governments would give a shit about you. They don’t. Are you selling arms? Massive amount of drugs? Well, you should be using Monero ya dolts and certainly not KYCing your 24 words. Or… ya know… don’t use the feature. Or buy a different wallet. This childish faux outrage is hilarious.
Even the best TV shows would not be able to portray such a bad CEO.
Wait a minute, is this dude just gaslighting us now?
It’s upsetting to see these guys turn out to be such clowns.
So.. it means yes. We should have a reminder post once a month about the risk of using ledger so that people new to crypto can make informed decisions.
My moves so far.
1. Stax prerorder cancelled
2. Keystone Pro ordered
3. I will not update FW on Ledger X
4. When Keystone Pro arrives, I’ll generate new seed and move everything there
5. Throwing Ledger to rubbish
It was a yes or no question and he refused to answer.
The truth is clear
That AMA was DYOR
Thanks for posting this here
Last I checked, they hadn’t committed to open sourcing the firmware, which is the only thing that matters.
I defended ledger a bit on the first day, to combat the usual inflated rumors here. Sad to say that the issue is worse than I hoped originally.
what a shit show!
I think everyone is missing the point, how they would respond to subpoena DOESN’T MATTER, the fact is when they have the option to choose whether or not to give up your seed, it’s already mean people are giving up self custody.
If people are going to give up self custody, I would rather recommend them to keep it in a much more regulated and reputable company like Coinbase or Kraken.
I wouldn’t trust company like ledger that is always lying, misleading, not having accountability and worse of all not able to safekeep customer privacy data (Yes I’m talking about the data breach where 272k customers full data is being leaked, including mine, I’m still being harassed by all the spam and phishing mail till this day)
It’s like no one has hear of what a National Security Letter is for.