Pascal Gauthier, CEO of Ledger, announced that the company plans to launch its private key recovery service before the end of this year. The service aims to help users recover their private keys by splitting the mnemonic phrase into three fragments shared by Ledger, CoinCover, and EscrowTech. In May 2023, Ledger released the Nano X cold wallet 2.2.1 firmware update, which plans to introduce the Ledger Recover recovery function. This function has raised concerns among some users about privacy and security. As a result, Ledger delayed the release of the key recovery (Ledger Recover) function.
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