Probably most of us have heard about the big scandal around the Ledger hardware wallet and their (new?) ability to extract your seed phrase.
IMHO, this leads to some questions for the Monero community:
- How do I safely extract my Monero from a Ledger ?
- Will the Monero support for Ledger continue ?
- How can I extract my Monero, if Ledger is no longer supported ?
- Are there Ledger alternatives, that are recommended by the Monero community?
It is currently unclear if seeds were always compromised, or if it will/can only happen with the newest firmware update. However, I think the safest way would be to convert the Ledger seed phrase into a Monero seed phrase and withdraw using Monero GUI or another trusted Monero wallet. This will also work if Ledger does no longer support Monero and would be my answer to questions 1 and 3:
"I wrote a guide for converting your Ledger seed to a Monero seed on Windows: https://monero.stackexchange.com/a/11980/9306
Even simpler there is also a web tool that you can use offline to convert your Ledger BIP39 seed -> Monero seed: https://coinomi.github.io/tools/bip39/
For Trezor there is also a tool, but I have to admit it's not user friendly yet as it's just a PoC: https://github.com/ph4r05/monero-agent/blob/master/PoC.md#trezor-seeds"
submitted by /u/Ornery_Maintenance_8