Understanding & Updating Ledger Nano X Firmware: Navigating Trust in Hardware Wallets

When I mentioned Santa Clause, I was referring to the fact that people believed the Ledger Nano device was %100 cryptographically trustworthy on its own. That was a fairy tale, like Santa Clause. Ledger never said that was the case, people just believed it. The truth is that the secure chip element that derives and stores the private key is proprietary technology and not open source. Therefore it requires a level of trust in the company. (No disparagement intended for people who still believe in Santa Clause)

Thanks for this vid again CD. Relying on your vids on the technical point of crypto / storage since 2017/18 !! Big up !!

Firmware 2.2.3 for Nano X is out, which includes Ledger Recover service (the feature that ruins Ledger's trustworthiness). Is there anybody updated their device to 2.2.3 and does it work fine without opting in recover service?

The real issue with Ledger is that they LIED --they've always said it was "physically impossible" to extract the seed phrase from the secure element chip, and now they say it has always been possible and that we should simply trust them... Ledger Live is now known as "Ledger Lied" and they should go out of business.

It is a backdoor, the third key is the same for all ledger users. Govt can just confiscate it, which means hackers can find a way in as well. Encryption either works or it doesn't. Ledger fundamentally broke it.

Do I have to update it to this firmware?

Good video. jumped on here in the beginning of the 2023 bullrun to export some LINK ::)

Love you Channel brother I don't trust doing mobile crypto I don't trust QR codes and I don't trust Bluetooth and NFC so how do I get XDC off and an exchange without using those or a third party wallet

as long as ledger recover function is for nano X only
If i am using nano S , am i still need to worry ..?

my ledger firmware is 2.0.2 would it still be safe to update it? cheers Cryptodad

If they access to your funds, then you might as well use a local bank

I've not updated. As long as ledger works without needing an update then i wouldn't recommend updating.
We cannot give them access to our private keys
it's easy to say you have to subscribe to it to allow them
that's a lie
there's nothing stopping them or a hacker to take your funds then

So how do people feel about splitting between an X and an S? I like the Ledger because it’s so easy to set up and use.

Wow, the conspiracy theories just astound me. The fact that people thought/think Ledger, or practically any hardware wallet, is bulletproof shows a lack of security awareness, not some fabricated untrue narrative of supposed malicious intent. Any device that can accept firmware updates, and/or load applications, by definition has an associated potential attack vector. A device lacking such a capability typically does not have such an attack vector. However, any issue with the firmware or installed applications could only be resolved by replacing the device with another updated device, thus incurring a significant cost for problem resolution.

The service being offered by Ledger is not required, and the device till needs to be physically manipulated to use the service. The service is clearly intended to help people who are likely less technically savvy and security aware. Just don’t use the service and your private key stays securely on the device; it’s that simple.

If you’re really that paranoid, create paper wallets using a client side application in a windowless room with no network connection. Then destroy both the computer and printer to ensure no data could have possibly leaked.😁

CryptoDad I have a question: Is Trust wallet needed for xrp xlm or can I leave on my Ledger nano when the conversion happens?

Liberty safes just went through something similar. Giving back door security code to the feds without a subpoena.

Trudeau's back door. Not so much weird, more totalitarian.

😅😄

Good day Sir you crypto is still save??? As I still have not done my firmware update

Hello @CryptoDad , are you using VPN to update? Or your regular internet?

So, I bought a Nano about 2 weeks before the big announcement... How would I know wether or not my Nano came pre-installed with the new firmware?
Where could I find the firmware serial numbers on the device and/or online?
Any help would be appreciated 👍