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The Sales of Hardware Wallet Maker Trezor Rise By 900% Amid Ledger Controversy

ByLouis Adams

May 29, 2023
Reading time: < 1 minute

Trezor has reported a 900% weekly increase in sales following controversy within the cryptocurrency community surrounding Ledger’s seed recovery option.

Trezor CEO Matej Zak has stated that hardware wallets should not make the seed available to anyone other than the user.

The company has also emphasized that their products are open source, allowing independent technical experts to check all processes to ensure private keys cannot be accessed.

Ledger has responded that they plan to accelerate the disclosure of source code, including the Recover service.

There were then rumors that Ledger collected advanced customer data but they denied such allegations.

They did admit to a data breach of approximately one million users, which leaked personal information such as email and postal addresses, names, phone numbers and purchased Ledger products.