In a recent announcement, the CEO and CTO of Ledger, a leading hardware wallet provider, revealed their plans to open source Ledger Recover, publish a whitepaper, and make the service auditable. Additionally, Ledger intends to gradually open source most of its operating system (OS). This blog post explores the risks associated with crypto services having access to crypto keys, while also highlighting the pros and cons of Ledger’s approach. While Ledger Recover aims to simplify the seed phrase recovery process, users should weigh the pros and cons of relying on third-party services. It is crucial for individuals to understand the implications and make informed decisions regarding their crypto assets’ security and self-custody.