Users are upset with Ledger due to a firmware update that could expose private keys, contradicting previous assurances. Ledger’s closed-source firmware limits code access to its developers, while open-source code allows external inspection for improvements and error detection.
During a recent Q&A session on Twitter held on May 17, Ledger Support stated that it has consistently possessed the capability to develop code enabling key extraction. It emphasized that users must place their trust in Ledger to ensure the security of their information.
Ledger’s recent announcement regarding its privacy features has led to a shift in users’ understanding, causing disappointment among many. However, some argue that the ensuing outrage has been exaggerated.
In response to the negative feedback, competitors immediately seized the opportunity and offered discounts on a wide range of their products. These include Trezor, Blockstream’s Jade, and iSafePal are among the many others who took advantage of the situation to attract customers.
Trezor was among the first few companies to offer discounts on their wallets to get a bigger piece of the Hardware wallet sales figure. Trezor has always been in a tussle with Ledger, and it was imminent for the wallet maker to seize the opportunity.
GridPlus, a cold-storage competitor, is responding to the Ledger controversy by announcing that it will release its crypto wallet firmware as open source. Improved transparency and security for users.
iSafePal did not back down either, as it called out Ledger in a sneaky remark. iSafePal also spread the message among users to protect their seed phrases as they offered a limited time discount of 5% on their products.
Blockstream also offered a 10% discount on its Blockstream Jade product. The sale will last till the 21st of May.
Hilarity ensued as the Twitterati quickly retweeted and commented on the advertisements that the competitors ran against Ledger’s recent outrage. Some brands have even pinned the discounts on their Twitter homepages. Will Ledger get its sparkling reputation back? Only time will tell.