Don't forget that Ledger let their database be leaked once. With the backdoor update, anyone trusting Ledger with their tokens should consider moving out of their products.

In June 2020 the physical addresses and names of exactly 272,853 Ledger customers were leaked. Other details such as email and phone number also were there. Since then Ledger users have been bombarded with fake emails pretending to be Ledger service, but that leads to the user installing a fake Ledger Live app.

In their message to the community after the leak, they only admitted that 9,500 customers had such detailed data leaked. I'm unable to confirm why the disparity of numbers.

As discussed in this sub in the past day, the backdoor is a threat and security risk, and has been confirmed by Ledger:

https://preview.redd.it/caio3kkfy60b1.png?1795&format=png&auto=webp&s=956db75b0e680fc72d19787a52c09b304021e725

What astonishes me even more is the part where he says the device slices the seed and sends the parts "to different companies". Wtf?? So now not only you have to trust Ledger, but also that their partners won't mess up. This is not only a single point of failure anymore.

"But data is encrypted and no company will have the whole seed phrase". I ain't trusting it.

"But no seedphrase has been leaked, only personal data". I still ain't trusting it.

Considering that a data leak already happened, I'm 100% not trusting this. I'd advise anyone to consider moving to a different cold wallet provider.