Ledger Sued for Half Billion Over Bungled Security Incidents

Crypto wallet maker Ledger is facing a $500 million class-action lawsuit over its handling of several high-profile data breaches. The lawsuit, filed on August 27, claims that Ledger neglected customer safety and failed to adapt to the breaches, resulting in substantial financial losses for users.

The breaches in question occurred in 2020 and 2023. In the former, personal data from nearly 300,000 Ledger users was leaked online, while the latter saw a phishing attack on one of the company's employees result in the dissemination of malware capable of redirecting crypto to attackers.

Ledger has faced criticism in the past for its handling of security incidents. In 2026, a data breach involving payments processor Global-e led to the leak of users' personal data. The lawsuit alleges that Ledger downplayed these breaches and failed to notify customers in time, allowing thieves to target and steal their crypto.

The lawsuit also claims that Ledger violated New York's Stop Hacks and Improve Electronic Data Security Act and was negligent in its actions. It seeks between $500 million and up to billions of dollars in damages, with a trial by jury demanded.