Ledger Co-founder Exits Company After Recover Feature Scandal


September 6, 2023


Gabriel Negrín

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Nicolas Bacca, co-founder and chief innovation officer at Ledger, has left his position, marking yet another high-profile exit following the departure of ex-CEO Eric Larchevêque in 2019. 

Bacca intends to lead a new project targeted at bringing more users into the cryptosphere. He believes that Ledger's advocacy of self-custody was only the beginning.

Bacca, a key person at Ledger who handled the development and $6M sale of Nano wallets, is preparing to strengthen safe crypto access. He still works with Ubinity, a company specializing in secure smart card modules. 

Furthermore, his previous co-founding efforts with BTChip indicate his preference for open-source secure element hardware wallets.

Bacca's decision comes after Ledger's controversial implementation of a subscription service for key recovery. This service sparked criticism for undermining crypto's self-sovereignty concept.