This won’t come as a surprise to you, we all know where the 900% sales surge came from. As ledger announced its recovery program, which created a huge distrust in ledger’s customers, they had to look for alternatives. I watched videos of some ledger customers destroying their ledger cold storage wallet. This must have been after they removed their assets from the wallets. As customers don’t feel safe using their ledger wallet anymore they have to port to another one.

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I don’t think there are a lot of crypto cold storage wallet companies out there, I only know of two, Ledger and Trezor, the moment I heard of the ledger recovery program and the possibility of customers getting angry and switching, I thought about trezor, I guess I was not wrong as the company recorded a 900% surge in sales afterwards. The company used the opportunity to assure the public that they still keep to their commitment to self custody. The reason people are using self custody wallets is because they want to be in control of their assets and feel safe holding and storing it.
To use the ledger recovery, the customer will have to do KYC, why would you do KYC when you are trying to stay anonymous. Ledger just literally shut itself in the foot, because, a lot of damages have been made. First customers don’t trust them anymore thinking they would be a possible back door in their current cold storage wallet, so even though they stop the ledger recovery program, will people still patronise them? Customers just need assurance of their asset safety, which means that they prioritise security a lot.
In terms of security, aside the recovery program that Ledger was planning on bringing, I don’t think there has been any news of ledger wallet vulnerabilities. But unfortunately there has been, although for this to entirely work, the hacker will need to be with the wallet physically. So while we are fighting between Ledger and Trezor, I think this is the time for other cold storage wallets to come up.
