- The company said it will never add a seed phrase extraction feature.
- Earlier, Ledger was noticed in this, which, moreover, fell for a lie about the firmware of its wallets
- In this regard, the demand for Trezor products has increased.
Over the past week, Trezor cold wallet sales have increased by 900%. The reason for the surge in demand for the company’s products was the scandal surrounding the company’s direct competitor in the form of Ledger.
“At Trezor, we believe that cold storage hardware wallets that promise 100% self-service should not provide seed access to anyone other than the owner himself.” says in press release companies.
Trezor bills itself as a 100% open source project. Independent experts make sure that third parties do not have the opportunity to extract the seed phrase or its fragment. The company also said that they would never add such a function personally.
What’s Happening at Ledger?
The company was at the epicenter of the scandal after the presentation of the Recover function. It turned out that the firmware of the firm’s wallets has a “loophole”, which, theoretically, allows access to the owner’s seed phrase.
The manufacturer tried to justify himself, urging customers to “trust” the organization. However, later, under pressure from the community, Ledger postponed the release of the problematic update.
But, one way or another, the reputation of the company turned out to be tarnished, and it will not be able to recover from such a blow soon. Interestingly, the Trezor itself is also not going smoothly. Earlier, Unciphered announced that it could hack one of the cold wallets produced by the company.