Ledger hardware wallet privacy issues are serious
A lot of reports are emerging on twitter warning users that Ledger might have access to sensitive information about the crypto currencies stored on the hardware wallet.
Their latest newsletter to their users read that Ledgers all over the world now secure more than 20-percent of global cryptocurrency assets.
This is baffling and worrisome. Ledger Live collects this info and provides it to Ledger as part of how the wallet works.
A hArDwArE wallet will keep me safe. Just bury a lockbox with some PKs like everyone else.
— Neetmoney (@XBTwaifu) October 7, 2023
In other words, Ledger has information about IP address, your email address and even your mailing address in case you bought directly from them. They also know how much cryptocurrency you are currently holding on your hardware wallet.
What is the safe way? Should you stop using Ledger hardware wallet? Well, you can use ledger without using Ledger Live, the main desktop app that is used to communicate with the hardware wallet. But, most users will simply use their Ledger Live app for sake for simplicity and streamlined interface. This shows the company has no ethos of privacy.
Clearly, it is sad to see Ledger bragging about their users in a newsletter. This paints a concerning picture.