No, it doesn't. Ledger Recover service follows the same principle as signing the transaction on a blockchain—securely and only with your permission. No access to your private key is made to enable Ledger Recover to work.
To better understand this, let's go back to the basics and see how hardware wallets—which can be described as signing devices—work.
Hardware wallets have two primary purposes: to safeguard your private key and sign transactions on the blockchain. To sign the transactions, wallets need to access your private key. They can't sign transactions otherwise.
Ledger devices protect your private key with a Secure Element, a technology that has been battle-tested and used in the finance industry for 30 years, from storing passwords and fingerprints to processing contactless payments.
Ledger's operating system allows access to the private key stored within the Secure Element, but only after you manually approve and confirm it. To learn more about how the process works behind the scenes, read this explanation from Ledger's CTO Charles Guillemet and check out his interview about wallet security. For a technical explanation of how Ledger Recover operates, see Charles Guillemet's tweet.
