Ledger has announced the launch of a new physical Recovery Key that allows owners of the Flex and Stax hardware wallets to regain access in case they lose their seed phrase. This device is designed to enhance security and eliminate risks associated with storing backups in digital form.
This is reported by Finway
Features of the Recovery Key for Ledger Flex and Stax
The Ledger Recovery Key is a standalone physical card with a built-in NFC module that operates independently and is protected by a personal PIN code. Access to the wallet is restored by bringing the card close to the host device. To enhance security, users can create multiple such keys, but each new card requires confirmation on the wallet.
The interaction of the Recovery Key with the hardware wallet occurs through secure NFC channels without involving intermediaries. The solution is based on Secure Element technology, which Ledger has already successfully implemented in its products.
Open Development and Security Audit
The manufacturer emphasizes its commitment to transparency: the source code of the Recovery Key has been published on GitHub. The device has undergone both internal verification by the Donjon team and an external audit by Synacktiv. Meanwhile, the operating system for the key was developed by a partner of Ledger, whose name the company has not disclosed.
“The interaction between the card and the owner’s wallet occurs through ‘secure NFC channels without the involvement of intermediaries.’”
It is worth noting that Ledger was previously criticized for its Recover feature, which allowed users to store their seed phrase backup on a cloud server. This approach raised concerns in the crypto community due to potential risks associated with storing private data online. The new physical Recovery Key aims to address these issues and provide an additional layer of protection for hardware wallet users.