Ledger Unveils Autonomous Access Recovery Device for Wallets

The hardware wallet manufacturer Ledger has recently unveiled a standalone device that allows users to access their wallet anytime using a copy of their recovery phrase.

The Ledger Recovery Key is a smart card that connects with Ledger devices via NFC protocol.

This device serves as an accessory to wallets and does not facilitate asset storage or management, as stated by the company.

The Ledger Recovery Key requires a connection to a hardware wallet, is secured with a PIN code, and enables:

Ledger emphasized that the preferred method for recovering access remains the subscription-based Ledger Recover service. This solution, introduced in 2023, received mixed feedback from users due to concerns about the theoretical possibility of reconstructing the recovery phrase from its three segments, each stored with different custodians.

In response, Ledger’s competitor, Trezor, reported a surge in sales of by 900%.

Additionally, in 2024, a well-known Brazilian pianist known as Lord Vineteiro, who boasts over 7 million YouTube subscribers, lost his recovery phrase and access to 4 BTC stored in his Ledger Nano X.