Warning updating Ledger Nano S firmware to 1.3
This post is a PSA/reminder for anyone who has a Ledger Nano S and hasn't updated the firmware to 1.3.
I have been a holder of ETH for over a year now and have always been extremely careful when it comes to making transfers and the safety of my ETH. I've heard and respected all of the warnings of crypto and played it safe. I can proudly say I have never lost even .1 ETH to a bad transaction! However, I made my first potentially critical mistake in the crypto world about 2 hours ago.
It all started out with an idea to buy some Stellar. Before my purchase I grabbed my Ledger, which I have had since early last year, and plug it in to see if it will accept Stellar. I quickly figure out I just need to update the Ledger firmware to 1.3. Without thinking, I make the update.
Little do I know that updating to 1.3 resets the Ledger and requires you to input your 24 seed words to recover your account. Unfortunately, those words are locked in a safety deposit box and my bank doesn't open till Monday. While I understand I should still be able to access my account with the recovery words, there is still a chance something doesn't work right and I am locked out of my account. So now I am stuck here for the weekend, praying to the crypto gods those recovery words are going to work. I can already tell it's going to be a long weekend.
Moral to the story, no matter how safe you think you are, one fuck up in the crypto world can cause a lot of damage. Always make sure you understand what you are doing before doing anything. And if you ever need to update your Ledger to 1.3, get your ETH out of the account first.