Ledger Ex-CEO Rants on Reddit Regarding Recent Debacle

  1. Ledger’s former CEO Éric Larchevêque ranted on Reddit and apologized on behalf of the company.
  2. The whole mess was a “total PR failure” although he admitted he had shortcomings during his tenure.
  3. Larchevêque assured Ledger is still safe and there is no back door despite the latest update.

Hardware wallet maker Ledger’s former CEO Éric Larchevêque spoke up about the company’s recent debacle stemming from a new update communicated in the wrong tone. In a rather long Reddit post, the Ledger shareholder who was CEO from 2014 to 2019, apologized on behalf of the company.

Larchevêque wrote:

“My mistake as a CEO during my tenure was probably not being relentless enough about explaining the security model, but at some point, you just give up as people don’t care at all. Until they care again, like now.”

Larchevêque pertained to Ledger’s security model that still required people to trust the company. “The security model of any Ledger device relies on the fact that you need to trust Ledger to provide with a firmware doing exactly what it is supposed to be doing,” he admitted.

In a sense, the controversial tweet that said Ledger really has the means to create a firmware is not untrue, although it sounded out grossly wrong, public relations-wise. The whole fiasco was a “total PR failure” and not a technical one, according to Larchevêque.

“The hard truth, which has been confirmed by many experts who took the time to actually deep dive on the subject, is that nothing changed,” he assured. “Absolutely nothing happened. The security model is the same as before you knew Ledger Recover existed.”

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Jesus Dawal Jr covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.