CryptoMediaClub
Friday, October 3, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

GridPlus to open source wallet firmware in Q3 amid Ledger debacle

18.05.2023
A A
0
127
VIEWS
ShareShare

Amid fallout over Ledger’s controversial decision to allow private keys to be “recovered” from its devices, cold storage competitor GridPlus has announced that it will move to “open source” the firmware of its crypto wallets.

GridPlus took to Twitter on May 17 to inform its 17,500 followers that it will open source the firmware of all its crypto devices in the third quarter of this year in what it claims is in a bid for greater transparency.

The most trusted name in cryptography, relied upon by the world's governments for their highest security applications for decades, sold products backdoored by the CIA. How can we ensure this won't happen again? Open-source software.
GridPlus will open-source its firmware in Q3. pic.twitter.com/889OnqXd20

— GridPlus (@gridplus) May 18, 2023

“This week's hardware wallet discussions laid bare trust assumptions taken for granted,” wrote GridPlus in a follow up comment.

“We as an industry must hold ourselves to the highest standards and we call on all other hardware wallet manufacturers to open-source their firmware as well for the benefit of our ecosystem.”

Much of the ire directed at Ledger over the last 48 hours stems from its firmware — a term for software that’s built into a hardware device — being updated that would allow the potential extraction of a user’s private key from their cold storage device, despite reportedly assuring users the opposite in the past.

Related: Ledger data leak: A ‘simple mistake’ exposed 270K crypto wallet buyers

Notably, Ledger’s firmware is closed source, meaning that only developers from the company itself can view the code and inspect it for flaws. Open source code on the other hand allows for any programmer to access and inspect pre-existing code to improve it and check it for potential errors.

Speaking directly to this point in a May 17 Q&A session on Twitter, Ledger Support clarified that it had “always been possible” for the company to write code that would allow for key extraction and users must trust in Ledger.

(1/2) Technically speaking it is and always has been possible to write firmware that facilitates key extraction. You have always trusted Ledger not to deploy such firmware whether you knew it or not.

— Ledger Support (@Ledger_Support) May 17, 2023

While Ledger’s announcement subverted many user’s understanding of the kind of privacy features its products offered, some have suggested that the outrage has been blown out of proportion.

Competitors appear to have been quick to capitalize on Ledger's poorly-received announcement, with some choosing to offer discounts across the bulk of their products including Trezor, Blockstream's Jade and BitBox.

Magazine: Ordinals turned Bitcoin into a worse version of Ethereum — Can we fix it?

Share10Tweet6ShareSharePin2

Related Posts

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei
Blockchain

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei

18.07.2025
0

Skip to content

Read moreDetails
Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

17.07.2025
LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

14.07.2025
Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

14.07.2025
Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

08.07.2025
Load More
Next Post
Korean lawmakers rally toward crypto rules in May after grisly murder case: Report

Korean lawmakers rally toward crypto rules in May after grisly murder case: Report

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

U.S. Companies to Pay International Contractors in Stablecoins

U.S. Companies to Pay International Contractors in Stablecoins

10 months ago
Total crypto market cap reaches 10-month-high amid bull run

Total crypto market cap reaches 10-month-high amid bull run

2 years ago
Bitcoin reclaims $108k amid upward consolidation as war tensions show signs of easing

Bitcoin reclaims $108k amid upward consolidation as war tensions show signs of easing

4 months ago

As Race for Spot BTC ETF Hots Up, CEO Cathie Wood Says Ark Invest is First in the Queue

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

US Government Shutdown Triggers Cryptocurrency Market Recovery: Bitcoin, Ethereum, and Ripple Prices Soar

Why Is Crypto Up Today? – October 3, 2025

NY Senator Introduces Bill to Tax High-Consumption Crypto Miners in New York

Nomura Unit Eyes Wider Access To Crypto Trading In Japan: Report

Bitcoin Breaks $120K As ‘Uptober’ Momentum Rises, Shutdown Fails To Stall Gains

Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin

Trending

Record $300B stablecoin liquidity ready to fund Bitcoin and Ethereum purchases
Analysis

Record $300B stablecoin liquidity ready to fund Bitcoin and Ethereum purchases

03.10.2025
0

The stablecoin market has crossed a landmark $300 billion capitalization, reflecting its growing role as the connective...

October 3 [LIVE] US Economic Data Mixed as PMI Shows Divergence – Positive Trigger for BTC?

October 3 [LIVE] US Economic Data Mixed as PMI Shows Divergence – Positive Trigger for BTC?

03.10.2025
Bitcoin above $120k: Here’s 3 data points bulls must watch next

Bitcoin above $120k: Here’s 3 data points bulls must watch next

03.10.2025
US Government Shutdown Triggers Cryptocurrency Market Recovery: Bitcoin, Ethereum, and Ripple Prices Soar

US Government Shutdown Triggers Cryptocurrency Market Recovery: Bitcoin, Ethereum, and Ripple Prices Soar

03.10.2025
Why Is Crypto Up Today? – October 3, 2025

Why Is Crypto Up Today? – October 3, 2025

03.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz