According to Foresight News, Ledger CEO Pascal Gauthier has announced plans to launch a private key recovery service by the end of this year. The service aims to help users recover their private keys by splitting the mnemonic phrase into three shards, which will be shared by Ledger and two other security companies, CoinCover and EscrowTech.
In May 2023, Ledger released the Nano X cold wallet firmware update 2.2.1, which was set to introduce the Ledger Recover feature. However, this feature raised privacy and security concerns among some users, leading Ledger to postpone the release of the key recovery (Ledger Recover) feature.
