Ledger Introduces Offline Recovery Key for Enhanced Wallet Security
Ledger, a leading hardware cryptocurrency wallet provider, has launched the Ledger Recovery Key, an offline tool designed to help users regain access to their crypto wallets without relying on cloud services or personal data. Compatible with Ledger Flex and Ledger Stax wallets, this solution uses a smart card with NFC technology for secure, offline private key storage.
How the Ledger Recovery Key Works
Unlike the cloud-based Ledger Recover, this tool does not require identity verification. Built with Secure Element technology, the Ledger Recovery Key has been open-sourced on GitHub and subjected to rigorous security testing.
- Enables offline private key recovery
- Eliminates need for identity verification
- Works with NFC-enabled Ledger wallets
Security and Transparency
The tool underwent internal security testing by Donjon, Ledger’s white hat hacker team, and external audits by cybersecurity firm Synacktiv. Charles Guillemet, Ledger’s chief technology officer, reported positive feedback from security experts and industry leaders.
Mitigating Self-Custody Risks
While self-custody gives users full control over their private keys, it carries risks like key loss or theft. The Ledger Recovery Key addresses these concerns by providing a secure, user-friendly recovery method.
