Cryptocurrency Q&A
Can Ledger freeze my funds?
Can Ledger freeze my funds?
Martino
Sun Sep 22 2024
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7 answers
2057
Hello there, I'm curious about something related to my Ledger wallet. I've heard rumors that some cryptocurrency wallets have the ability to freeze funds in certain situations. So, I'm wondering if this is true for Ledger as well. Is there a chance that my funds could be frozen in my Ledger wallet? If so, under what circumstances would this happen? I'm just trying to understand the security measures in place and ensure that my funds are as SAFE as possible.
7 answers
Martina
Tue Sep 24 2024
Unlike traditional financial systems, where authorities can freeze or retrieve funds, public blockchains do not have such capabilities.
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Alessandro
Tue Sep 24 2024
Public blockchains are decentralized systems that operate on a consensus mechanism.
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Gianluca
Tue Sep 24 2024
This is because the transactions recorded on the blockchain are Immutable and cannot be altered or reversed.
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KimonoElegance
Tue Sep 24 2024
Ledger, as a popular blockchain platform, also adheres to this principle. Once a transaction is recorded on the Ledger blockchain, it cannot be reversed or undone.
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Giulia
Tue Sep 24 2024
This means that there is no central authority that can control or manipulate the network.
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