<![CDATA[<figure class="image"><img src="https://cimg.co/news/126825/334883/ledger.jpg" alt="" srcset="https://cimg.co/news/126825/334883/responsive-images/ledger___media_library_original_1200_800.jpg 1200w, https://cimg.co/news/126825/334883/responsive-images/ledger___media_library_original_900_600.jpg 900w, https://cimg.co/news/126825/334883/responsive-images/ledger___media_library_original_720_480.jpg 720w, https://cimg.co/news/126825/334883/responsive-images/ledger___media_library_original_600_400.jpg 600w, https://cimg.co/news/126825/334883/responsive-images/ledger___media_library_original_300_200.jpg 300w" sizes="100vw" width="1200" class="content-img"><figcaption>Source: Ledger</figcaption></figure>Popular hardware wallet company Ledger has launched a cloud-based private key recovery tool called 'Ledger Recover.'<figure class="media"><oembed url="https://twitter.com/Ledger/status/1716767739782574368?s=20"></oembed></figure>According to the official X announcement on October 24, Coincover, a renowned blockchain protection platform, designed the recovery tool. Ledger Recover will provide users an entry point to recover their Secret Recovery Phrase (SRP.)SRP is a rambled list of 24 words used to regain access to one's private keys when unable to access the digital asset wallet.<figure class="media"><oembed url="https://twitter.com/Ledger/status/1716767751472075111?s=20"></oembed></figure>Initially, with plans for a wider rollout, Ledger Recover will be available to passport or identity card holders in the United States, Canada, the United Kingdom, and the European Union (EU).&nbsp;However, a subscription to the new recovery solution is not free. Hardware wallet enthusiasts must pay a <a href="https://www.reddit.com/r/ledgerwallet/comments/13k0ttl/ledger_recover_pricing/">monthly billed subscription fee</a> of $9.99.&nbsp;<figure class="media"><oembed url="https://twitter.com/Ledger/status/1716767741837771114?s=20"></oembed></figure>Moreover, Ledger Recover will only be compatible with the Ledger Nano X hardware wallet, not the Ledger Nano S. The hardware company plans to add the Ledger Nano S Plus and Ledger Stax in the near future.&nbsp;Charles Guilleme, the current Chief Technology Officer (CTO) of Ledger, took to X to provide vital information on the inner workings and broader impact of the cloud-based private key recovery tool.&nbsp;<figure class="media"><oembed url="https://twitter.com/P3b7_/status/1716767172830097584?s=20"></oembed></figure>Guilleme stated that the Ledger Recover service is designed for users keen to add an enhanced layer of resilience in case their SRP gets lost but will remain 100% optional for users.&nbsp;However, users not interested in the new service can continue using Ledger's hardware devices seamlessly.&nbsp;The CTO also emphasized that Ledger Recover is an <a href="https://github.com/LedgerHQ/ledger-secure-os">open-source solution</a>, underscoring the company's commitment to transparency and user security.&nbsp;On a closing note, Guilleme iterated the main goal of the hardware company is to make security and self-custody available to all users while mitigating hassles for beginners in the space.&nbsp;<h2 id="will-previous-community-backlash-reignite">Will Previous Community backlash Reignite?</h2>On May 16, Ledger unveiled its earlier plans for Ledger Recover, built to enable users to safeguard their seed phrases by transmitting encrypted key fragments to trusted third parties.<figure class="media"><oembed url="https://twitter.com/Ledger/status/1658458714771169282?s=20"></oembed></figure>Unfortunately, the reception within global communities was far from positive. Several crypto proponents named the firm's latest product introduction an epic failure.&nbsp;X user, "@Alistair Milne," explained to his 127,000+ followers the suspicious demand of users' private keys and copies of identification documents and other personal information for "security purposes."<figure class="media"><oembed url="https://twitter.com/alistairmilne/status/1658381708763209729?s=20"></oembed></figure>Renowned Youtuber "@ColinTCrypto" also stated he had been an advent user of Ledger hardware wallets for seven years but has now decided to consider alternatives due to the unveiling of Ledger Recover.&nbsp;<figure class="media"><oembed url="https://twitter.com/ColinTCrypto/status/1658539290245095425?s=20"></oembed></figure>With the recovery tool now live, a reignited criticism of the hardware wallet approach and its impact on the global crypto landscape could kick off.&nbsp;
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Ledger Debuts Cloud-based Private Key Recovery Tool Despite Previous Backlash

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