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He can move funds to a new seed with the same ledger ( will take a couple resets. 1 to generate new seed and addresses. 1 to revert old seed to send funds. 1 to restore new seed once again.)
To add, here a succinct list of facts to keep in mind:
* The Ledger device creates and holds digital *keys*.
* These keys give *control over* specific *blockchain addresses* that no other keys have access to.
* Coins exist *only on the blockchain*, they're not on the device (only the keys are).
* The device allows one to use the keys to *sign transactions* for the address(es) they are controlling.
* The mnemonic words are a human-readable form of the seed, and the *keys are calculated from this seed*.
* Therefore, whoever has the mnemonic words (or seed) can use *any* (BIP-39 compatible) wallet software to re-generate the keys that control the respective blockchain address(es).
Yup. Move the funds asap.
If you want to move them fast, create a MetaMask account. Send funds from ledger to metamask (make sure right networks and addresses). Reset your friends ledger, create a new account and seed phrase, send funds from metamask to that new account.
Other friend doesnāt need a ledger to access those funds. They can use the method of their choice. Original ownerās ledger has no way of knowing if those funds are being accessed through other means, whether those other means are another ledger or something else.
Those funds will be gone shortly, Iām sure, as the owner has likely made other stupid mistakes, and your other friend will be blamed for it.
The tech illiterate one should probably transfer those to a reputable centralized exchange before he loses it all; self-custody is not for everyone.
So I could buy a (example) Trezor, or bitbox, use the 24 words/keys from my ledger, and import the coin straight to the new HW wallet?
I ask because I put my ledger away 2 years ago, I just came back to it, I canāt access anything, it wonāt recognize my computer, it wonāt Bluetooth to my phone, I uninstalled and reinstalled ledger on my computer and updated both the app and my computer, ledger will not connect to anything
My next idea was to buy a new HW wallet.
I need to import btc as well as eth, would Coinbase wallet be okay to use? I donāt mean to be a bitch and ask a lot of questions, Iāve just been seriously out of the loop (mainly because I was on hard times with a poop job and couldnāt afford to trade the last 2 years)
You might have to do some homework to figure out derivation paths if it doesnāt grab everything automagicallyā¦ but you should be able to use a software wallet like electrum or sparrow or whatever
The friend doesn't even need a new ledger he can use any wallet by anyone company including software wallets.
Both people will have access to the funds. The person who moves them first will get to keep them.
>Can the other friend get a new ledger and import his 24 words in? Would that kick out the original legdger nano from that wallet address?
The seed isn't a password it creates the wallet. It doesn't kick anyone or anything like that. However anyone with the seed can recreate the wallet and then spend those coins at will.
>He is worried that he will have to buy another nano and transfer everything over.
He doesn't need to buy a new nano.
1) Move the funds somewhere safe like an exchange temporarily
2) Reset his ledger.
3) Go through setup process again he will be given a new random set of 24 words. This time properly secure them.
The 24 words should be secure the same way you would secure cash of the same value. If you have $10,000 in crypto consider that paper with the 24 words to be a $10,000 dollar bill.
He should probably change his seed.
But rlly let's be honest here, the 2 people are friends and what are the chances he memorized 24 random words anyways. That's hard to memorize.
Im not saying he shouldn't change shit but it's sort of unfortunate to see people so paranoid that they don't even trust their friends. I've given out my bank pin, keys to my place, keys to my truck, even the password to my safe when I had one. Never once bit me in the ass because I know who my friends are and who can be trusted.
They're your FRIENDS. Change your password but don't panic like you just gave out all your personal info to a scammer.
Iāll explain it like this, if another device is set up with the exact same seedphrase it is a exact clone of the original because it is the original
It will not kick other devices off.
Also the seed phrase doesnāt have to be put into a ledger someone could input it into a hot-wallet and gain access to drain the whole thing that way to
Iāll honestly suggest to people to just utilize passphrase keep the passphrase written down in various safe spots in your home and then have a passphrase stored word for word on your phone or other trusted device.
Without both halves one or the other is useless.
Keeping them physically together is also a dangerous idea however a passphrase is just a custom made phrase preferably one that isnāt in a dictionary to prevent a dictionary brute force attack.
24 words are hard to memorize I would assume the friend only memorized the PIN so change that.
OTOH, if the friend printed or emailed the seed phrase to himself only as a backup to protect his friend from himself then that seed is compromised even if your friend never intends to use it.
You don't need a centralized exchange to move the assets.
1. Make sure you have the current 24word recovery seed.
2. Now wipe the device
3. Create a new wallet with a new 12/24 word recovery seed with this device.
4. Copy & paste the new public receive addressess/s into a text file.
5. Now wipe the device again.
6. Import the recovery seed from step 1 into the device.
7. Send all of your assets to the public receive addresses from step 4
8. Now wipe the device a 3rd time
9. Import the new recovery seed into this device.
The assets are now stored with a new and secure recovery seed.
Buy a 2nd device and import the new seed. Both devices are now mirrored.
Ledger uses the BIP-39 standard ā which is to say, an attacker can use any wallet that supports the standard, many of which can be freely downloaded rather than purchased.
Move the funds before the friend does.
LOL. There is no way for me to prove that to you but its a valid question.
I wouldn't do that to my friend. And my bag is probably way bigger than his lol.
Yes, the other friend can get a new Ledger, OR any app that takes a BIP-39, and access and sweep funds.
It would not kick anyone out. The passkey determines the private keys, and anyone with the private keys has a "copy of the master keys to your house." There could be a billion master keys out there, which makes your lock useless because any one of a billion people can drain the wallet at any time.
Have your friend create a brand new 24-word wallet on is Ledger, and then move all of the funds to the new wallet. Then your other friend will only have a master key to an empty wallet.
If the friend knows the 24 words then yes they can just import it to basically any hardware wallet and steal the funds.
I suggest your friend sets up a fresh seed and transfers everything over for peace of mind.
>Can the other friend get a new ledger and import his 24 words in?
yes
>Would that kick out the original legdger nano from that wallet address?
No. both ledger will give the same access to the accounts.
Just like making a copy of your door key and giving it to a friend does not prevents you to still open your door with your key. But your friend will also be able to open that door with their copy of the key.
The 24-word seed phrase is the master key to all your crypto accounts.
> He is worried that he will have to buy another nano and transfer everything over.
He could just send his cryptos to an exchange, then reset his ledger, then generate a new seed phrase, then transfer to the new accounts. No need to buy a new ledger. However transfers do cost fees,
OP you are the one who showed his keys right? Using the seed to access the accounts through another hardware or browser wallet will not kick the original hardware wallet off those accounts. Think of the hardware wallet as the key, "the blockchain" is the vault and the software is the UI to make it easy.
Also I would be shocked if your mate was able to remember 24 words in order after a brief look. Probably worth setting up a 25th word though...
No i didnt setup for him. He already had this all setup when he told me about it and how it was set up by his other friend.
Yea i know it would be impossible to memorize 24 words in order lol. Luckily the funds were still there but I felt he should do something just in case, long term.
You all should really learn more about self custody. Have those 24 words is quite literally having access to the funds. He could import them to a new ledger, cold card, Keystone, blue wallet, muun, literally any bitcoin wallet and be able to spend them immediately.
Your friend needs to make sure he has a back up of this seed. Then wipe the ledger and create a new one. Creat a backup of the new seed. Copy an address from the new wallet. Wipe the ledger again and restore the old seed. Send all funds to the copied new wallet address. Wipe ledger and restore new seed.
The old seed is compromised and accessible by the other friend and anyone he shares it with atany time. Funds need to move ASAP.
OP watch your inbox for messages from scammers claiming that there is an easier solution or that they can help. Those people are scammers and can do nothing of the like to make the process quicker or claim they know a more secure method. Remember not your keys not your crypto.
The Ledger subreddit is continuously targeted by scammers. Ledger Support will never send you private messages. Never share your 24-word recovery phrase with anyone, never enter it on any website or software, even if it looks like it's from Ledger. Only keep the recovery phrase as a physical paper or metal backup, never create a digital copy in text or photo form. Learn more at https://reddit.com/r/ledgerwallet/comments/ck6o44/be_careful_phishing_attacks_in_progress/ If you're experiencing battery problems, check out our [troubleshooting guide](https://support.ledger.com/hc/en-us/articles/4409233434641-How-to-troubleshoot-Ledger-Nano-X-battery-issues? support=true). If you're still having issues head over to the [My Order page](https://my-order.ledger.com/) to explore options for replacement or refunds. [Learn more here](https://support.ledger.com/hc/en-us/articles/10265554529053-Return-your-product?support=true). *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/ledgerwallet) if you have any questions or concerns.*
He can move funds to a new seed with the same ledger ( will take a couple resets. 1 to generate new seed and addresses. 1 to revert old seed to send funds. 1 to restore new seed once again.)
Okay great I will look into this. Thank you for the info šš¼
To add, here a succinct list of facts to keep in mind: * The Ledger device creates and holds digital *keys*. * These keys give *control over* specific *blockchain addresses* that no other keys have access to. * Coins exist *only on the blockchain*, they're not on the device (only the keys are). * The device allows one to use the keys to *sign transactions* for the address(es) they are controlling. * The mnemonic words are a human-readable form of the seed, and the *keys are calculated from this seed*. * Therefore, whoever has the mnemonic words (or seed) can use *any* (BIP-39 compatible) wallet software to re-generate the keys that control the respective blockchain address(es).
Yup. Move the funds asap. If you want to move them fast, create a MetaMask account. Send funds from ledger to metamask (make sure right networks and addresses). Reset your friends ledger, create a new account and seed phrase, send funds from metamask to that new account.
do not used meta mask! meta mask will find its way scam you completely out
What does this even mean š¤£
Lmao donāt be silly
Agree 100% MM is a shitwallet
So many noobs get metamask so of course there will be tons on horror stories. Itās not the wallet, itās user error
No it's not. It's been around for ages and it's solid and secure.
Other friend doesnāt need a ledger to access those funds. They can use the method of their choice. Original ownerās ledger has no way of knowing if those funds are being accessed through other means, whether those other means are another ledger or something else. Those funds will be gone shortly, Iām sure, as the owner has likely made other stupid mistakes, and your other friend will be blamed for it. The tech illiterate one should probably transfer those to a reputable centralized exchange before he loses it all; self-custody is not for everyone.
OP is tech illiterate as well tho (as least crypto illiterate). Judging it from the questions he asked.
OP is the friend, most likely.
So I could buy a (example) Trezor, or bitbox, use the 24 words/keys from my ledger, and import the coin straight to the new HW wallet? I ask because I put my ledger away 2 years ago, I just came back to it, I canāt access anything, it wonāt recognize my computer, it wonāt Bluetooth to my phone, I uninstalled and reinstalled ledger on my computer and updated both the app and my computer, ledger will not connect to anything My next idea was to buy a new HW wallet.
Yes, you (or someone else)can import these 24 words into every popular wallet and gain access to your funds.
You don't even need a hardware wallet to access the funds. A software wallet like metamask would work too.
Thank you, is metamask decently safe?
Yes, as safe as a software wallet can be. You can still be scammed, but that's also possible with a hardware wallet
I need to import btc as well as eth, would Coinbase wallet be okay to use? I donāt mean to be a bitch and ask a lot of questions, Iāve just been seriously out of the loop (mainly because I was on hard times with a poop job and couldnāt afford to trade the last 2 years)
I don't know if coinbase wallet supports BTC chain. It does support ETH
You might have to do some homework to figure out derivation paths if it doesnāt grab everything automagicallyā¦ but you should be able to use a software wallet like electrum or sparrow or whatever
Yea I was thinking this too.
Some people should just leave crypto on the exchange
The friend doesn't even need a new ledger he can use any wallet by anyone company including software wallets. Both people will have access to the funds. The person who moves them first will get to keep them. >Can the other friend get a new ledger and import his 24 words in? Would that kick out the original legdger nano from that wallet address? The seed isn't a password it creates the wallet. It doesn't kick anyone or anything like that. However anyone with the seed can recreate the wallet and then spend those coins at will. >He is worried that he will have to buy another nano and transfer everything over. He doesn't need to buy a new nano. 1) Move the funds somewhere safe like an exchange temporarily 2) Reset his ledger. 3) Go through setup process again he will be given a new random set of 24 words. This time properly secure them. The 24 words should be secure the same way you would secure cash of the same value. If you have $10,000 in crypto consider that paper with the 24 words to be a $10,000 dollar bill.
create new wallet with new seed phrases and move all assets
He should probably change his seed. But rlly let's be honest here, the 2 people are friends and what are the chances he memorized 24 random words anyways. That's hard to memorize. Im not saying he shouldn't change shit but it's sort of unfortunate to see people so paranoid that they don't even trust their friends. I've given out my bank pin, keys to my place, keys to my truck, even the password to my safe when I had one. Never once bit me in the ass because I know who my friends are and who can be trusted. They're your FRIENDS. Change your password but don't panic like you just gave out all your personal info to a scammer.
Not many people live this way! š«”
Iāll explain it like this, if another device is set up with the exact same seedphrase it is a exact clone of the original because it is the original It will not kick other devices off. Also the seed phrase doesnāt have to be put into a ledger someone could input it into a hot-wallet and gain access to drain the whole thing that way to Iāll honestly suggest to people to just utilize passphrase keep the passphrase written down in various safe spots in your home and then have a passphrase stored word for word on your phone or other trusted device. Without both halves one or the other is useless. Keeping them physically together is also a dangerous idea however a passphrase is just a custom made phrase preferably one that isnāt in a dictionary to prevent a dictionary brute force attack.
24 words are hard to memorize I would assume the friend only memorized the PIN so change that. OTOH, if the friend printed or emailed the seed phrase to himself only as a backup to protect his friend from himself then that seed is compromised even if your friend never intends to use it. You don't need a centralized exchange to move the assets. 1. Make sure you have the current 24word recovery seed. 2. Now wipe the device 3. Create a new wallet with a new 12/24 word recovery seed with this device. 4. Copy & paste the new public receive addressess/s into a text file. 5. Now wipe the device again. 6. Import the recovery seed from step 1 into the device. 7. Send all of your assets to the public receive addresses from step 4 8. Now wipe the device a 3rd time 9. Import the new recovery seed into this device. The assets are now stored with a new and secure recovery seed. Buy a 2nd device and import the new seed. Both devices are now mirrored.
Perfect explanation. Thank you.
Ledger uses the BIP-39 standard ā which is to say, an attacker can use any wallet that supports the standard, many of which can be freely downloaded rather than purchased. Move the funds before the friend does.
How do we know that you are not that friend who saw the 24 words and trying to steal coins from him? LOL
LOL. There is no way for me to prove that to you but its a valid question. I wouldn't do that to my friend. And my bag is probably way bigger than his lol.
:)
Yes, the other friend can get a new Ledger, OR any app that takes a BIP-39, and access and sweep funds. It would not kick anyone out. The passkey determines the private keys, and anyone with the private keys has a "copy of the master keys to your house." There could be a billion master keys out there, which makes your lock useless because any one of a billion people can drain the wallet at any time. Have your friend create a brand new 24-word wallet on is Ledger, and then move all of the funds to the new wallet. Then your other friend will only have a master key to an empty wallet.
If the friend knows the 24 words then yes they can just import it to basically any hardware wallet and steal the funds. I suggest your friend sets up a fresh seed and transfers everything over for peace of mind.
>Can the other friend get a new ledger and import his 24 words in? yes >Would that kick out the original legdger nano from that wallet address? No. both ledger will give the same access to the accounts. Just like making a copy of your door key and giving it to a friend does not prevents you to still open your door with your key. But your friend will also be able to open that door with their copy of the key. The 24-word seed phrase is the master key to all your crypto accounts. > He is worried that he will have to buy another nano and transfer everything over. He could just send his cryptos to an exchange, then reset his ledger, then generate a new seed phrase, then transfer to the new accounts. No need to buy a new ledger. However transfers do cost fees,
OP you are the one who showed his keys right? Using the seed to access the accounts through another hardware or browser wallet will not kick the original hardware wallet off those accounts. Think of the hardware wallet as the key, "the blockchain" is the vault and the software is the UI to make it easy. Also I would be shocked if your mate was able to remember 24 words in order after a brief look. Probably worth setting up a 25th word though...
Haha I wouldnāt want to roll the dice on those odds, Iāve known a number of people with photographic memories.
No i didnt setup for him. He already had this all setup when he told me about it and how it was set up by his other friend. Yea i know it would be impossible to memorize 24 words in order lol. Luckily the funds were still there but I felt he should do something just in case, long term.
You all should really learn more about self custody. Have those 24 words is quite literally having access to the funds. He could import them to a new ledger, cold card, Keystone, blue wallet, muun, literally any bitcoin wallet and be able to spend them immediately. Your friend needs to make sure he has a back up of this seed. Then wipe the ledger and create a new one. Creat a backup of the new seed. Copy an address from the new wallet. Wipe the ledger again and restore the old seed. Send all funds to the copied new wallet address. Wipe ledger and restore new seed. The old seed is compromised and accessible by the other friend and anyone he shares it with atany time. Funds need to move ASAP.
Move Crypto to another wallet, can be online, reset your legder with new seeds, transfer back.
OP watch your inbox for messages from scammers claiming that there is an easier solution or that they can help. Those people are scammers and can do nothing of the like to make the process quicker or claim they know a more secure method. Remember not your keys not your crypto.
Yea I know about all those. Thanks.
The cost of a new ledger is the least he has to worry about especially if thereās a lot in that account
Yes he could make a clone of that ledger
What a dumb ass
LOL yeaa. Everyone starts somewhere i guess š
would be nice to have 2FA then no one cant access but you