Ledger, a leader in hardware crypto wallets, announced the release of the Ledger Recovery Key — a physical smart card designed to recover access to crypto wallets in a fully offline mode. The new product ensures security and convenience, minimizing risks associated with losing private keys, and offers an alternative to cloud solutions.
The Ledger Recovery Key is radically different from the company's previous service — Ledger Recover, which used cloud security modules to store encrypted segments of mnemonic phrases. The new smart card operates autonomously, requiring no internet connection, identity verification, or personal data transmission. To restore access, simply attach the card to an NFC-equipped device (Ledger Flex or Ledger Stax) and enter a PIN code.
The Ledger Recovery Key is built on Secure Element technology, offering a high level of protection similar to Ledger's main devices. The card uses secure NFC channels for direct connection to wallets without intermediaries. The application code is open and available on GitHub, with the technical documentation published separately. The product has been tested by the white hat hacker team Donjon and underwent external security auditing by Synacktiv.
“We have received positive feedback from security experts and are ready to introduce the solution to a large audience for further testing,” noted Ledger's CTO Charles Guillain.
Self-custody of crypto assets, such as Bitcoin, offers full control over private keys but carries the risk of their loss or theft. The Ledger Recovery Key simplifies the recovery process, offering a convenient and secure alternative to existing solutions like metal backup plates, seedless wallets, or Shamir Backup.
In 2023, Ledger launched the cloud service Ledger Recover, which sparked debates in the community due to third-party involvement. Despite a temporary suspension, the service continues to operate and shows growing popularity. With the release of the Ledger Recovery Key, the company offers clients a choice between cloud and offline solutions, strengthening its market position.
The Ledger Recovery Key highlights the company's drive for innovation in crypto asset security. The offline solution may attract users who prefer maximum autonomy and control over their funds. The product announcement has already sparked discussions on social networks, with users noting its potential to increase confidence in self-custody.