Ledger dropped another bombshell—this time with an "optional" firmware update that backs up your seed phrase with third parties. Wait, what? The company that built its reputation on "secure, self-custody" now wants to split, encrypt, and store your keys with external custodians. For a fee, of course.

Here’s the problem:

- "Not your keys, not your crypto" was the mantra Ledger users trusted. Now, they’re blurring the line between self-custody and custodial services.

- Opt-in today, mandatory tomorrow? Once the backdoor exists, who’s to say regulators won’t push for broader adoption?

- Security risks? Even if encrypted, any system that allows key extraction is a potential attack vector.

The irony? Ledger’s CEO once said, “The wallet cannot extract your seed.” Now, their firmware can. Oops!

This isn’t just about an optional feature—it’s about trust. If a hardware wallet company can pivot this hard on self-custody, what’s next?

Time to ask: Is Ledger still the gold standard, or a cautionary tale? 🧐

#NotYourKeysNotYourCrypto #LedgerRecover