Ledger, a cryptocurrency wallet manufacturer, is facing a $500 million class action lawsuit for negligence in protecting customer data. Douglas Kim, a Ledger user who claims to have lost nearly $2 million, filed the lawsuit on August 27. In 2020, the personal data of approximately 300,000 Ledger users was leaked and sold on online marketplaces for stolen data. In 2023, a phishing attack targeting a Ledger employee resulted in malware capable of redirecting cryptocurrency stored in Ledger wallets. The lawsuit alleges that Ledger downplayed these breaches, failed to notify customers in a timely manner, and violated New York’s Stop Hacks and Improve Electronic Data Security Act.
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