I've read quite some material but it boils down that there "is a chip" on Ledger Nano S and the PK never leaves it. But what I would like to know is

a) Is it encrypted? If so, how? Using my PIN? b) I know the device is reset after 3 false tries of entering the PIN but is the PK really encrypted inside this chip? Otherwise one could (in theory) remove the chip, put is somewhere else and read it out

any thoughts?

I've read quite some material but it boils down that there "is a chip" on Ledger Nano S and the private key never leaves it. But what I would like to know is the following.

1. Is it encrypted? If so, how? Using my PIN?

2. I know the device is reset after 3 false tries while entering the PIN, but is the private key really encrypted inside this chip? Otherwise one could (in theory) remove the chip, put is somewhere else and read it out.

Any thoughts?