Bankless Is Ledger Safe? with CTO, Charles Guillemet
9 snips
May 17, 2023 
Charles Guillemet, the Chief Security Officer at Ledger with a decade of experience in cryptography, dives into the intricacies of Ledger's newly introduced Recover feature. He explains its functionality and discusses the implications for user security and trust. Charles addresses concerns about firmware revealing private keys and emphasizes the importance of user consent. The conversation highlights the balance between innovation and self-sovereignty in the crypto space, inviting listeners to evaluate their own security in managing digital assets.
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Ledger Recover Goals
- Ledger Recover aims to simplify self-custody, bridging the gap for less tech-savvy users.
- It offers a trade-off: slightly less sovereignty for increased accessibility.
Ledger Architecture
- A Ledger device consists of a secure element (inner box) within the main device (outer box).
- The secure element, containing the private key, can be updated via firmware, requiring user consent.
Firmware Update Concerns
- Ledger's firmware updates have always been possible, but this particular update highlights a potential attack vector.
- A compromised firmware update could theoretically compromise all Ledger devices.