Ledger Sued for $500M Over Alleged $1.9M Crypto Loss Linked to Security Incident

Ledger, a leading hardware wallet company, is facing a proposed $500 million class-action lawsuit over an alleged $1.9 million cryptocurrency loss.

The complaint, filed by Douglas Kim in the U.S. District Court for the Southern District of New York on August 27, 2026, links the case to Ledger's 2023 Connect Kit security incident.

Kim alleges that attackers used the compromised software to carry out fraudulent transactions and obtained access through a former Ledger employee.

The complaint also claims that customer information from the 2023 incident was later used to target Kim, resulting in an approximate $1.95 million loss in cryptocurrency.