Ledger was prosecuted for data leakage and encryption theft, with a claim of $500 million

Ledger filed a class action in the amount of at least $500 million for security incidents in December 2023. The complaint alleges that the manufacturer of the hardware wallet failed to adequately protect the client ' s personal identity information and encrypted security data, resulting in the client facing the theft of encrypted currency and other financial losses. The plaintiff, Douglas Kim, alleged that Ledger had failed to notify his client in a timely manner after the incident and had not sufficiently disclosed its scope. It was mentioned in the pleadings that hackers used their contact information to impersonate Ledger ' s representative to obtain the client ' s encrypted wallet and private key. The pleadings cited seven grounds of action, including violation of New York commercial law, negligence, misrepresentation of negligence, etc。