BTC Wires

Ledger Faces Backlash Over Their new Firmware Update

Ledger Nano S, one of the most trusted hardware crypto wallet has created a storm over their latest firmware update. The consumers are complaining over the lack of testing before the release of the update. The recent software update has decreased the storage of the wallet significantly.

While the company has maintained that the issues of storage are caused due to a bug, many consumers speculate that the update was done to make the hardware wallet unusable. The update was aimed at providing support for third-party developers to add specific algorithm into the wallet thus helping the consumers manage their assets better.

What Went Wrong

The firmware update which was released on January 16th as 1.5.5 version update to the existing software, the execution went horribly wrong. As the firmware update reached most of the users, complaints started to flow in. People’s outrage went from mild to infuriating in a matter of couple days, as they discovered that the latest update has reduced the storage capacity of their device significantly.

One of the angry customers reported,

“Ledger Nano S (firmware version 1.5.5) can’t even hold BTC, ETH and XRP apps at the same time… is this really an ‘update,’ or just a cynical ploy to sell more devices?!”

The company quickly went into recovery mode and released a blog post addressing the issues caused due to January 16th Firmware update. The company statement read,

“When planning for this update we didn’t anticipate the impact it would have on Ledger Nano S capacity. This was not planned obsolescence, simply put, we messed up. We apologize and we’re committed to making it right,” Ledger said on its website.”

People Believe Its a Marketing Scheme To Sell More Devices

Despite the company issuing a statement on the issue, it seems the consumers were not really satisfied with the explanation. Various Redditors were quick to conclude that the recent software update was a dirty marketing trick and ploy to sell more of their devices.

The users are of the belief that such simple nuisances which could have been detected at any point in time during the testing phase. Consumers believe that the explanation is as hollow as the update and did not expect something like this from a brand of this stature. Checking the storage is a norm during the testing phase, so the explanation that it went under their eye unnoticed does not seem to fit well with the consumers.

Another fact that makes the update even more suspicious is the timing of the update, which fits perfectly in tune with the pre-sale of the newly launched NanoX which promises more storage and improved performance than the previous generation NanoS. Thus, the mistake fits perfectly in the zig-saw making the newly launched product more desirable.

Final Thoughts

Ledger has pulled an “Apple” on its consumers, remember the backlash that the tech-giant Apple faced when someone discovered that the company was slowing down their previous generation iPhones whenever a new device was launched. The company faced a similar backlash and their response was more or less on the same lines, that they were trying to protect their customers, which was not bought by anyone, and Apple had to settle several lawsuits after the discovery.

If the Ledger does not come up with a more believable explanation, it could also attract lawsuits from its customers and might also see its value in the market take a nosedive.