Ledger sued in $500 million class action over data breaches

Douglas Kim filed a $500 million class action lawsuit against Ledger over alleged security failures. Kim is a Ledger user. Kim claims thieves used data stolen from Ledger in 2020 to target his crypto. Kim claims thieves used data stolen from Ledger in 2023 to target his crypto. The 2020 breach leaked the personal data of almost 300,000 Ledger users. The data was uploaded to an online marketplace for stolen data. A 2023 phishing attack targeted one of Ledger's employees. The attack resulted in malware capable of redirecting crypto stored in Ledger wallets to attackers. The lawsuit alleges that Ledger downplayed the 2020 and 2023 breaches. It alleges that Ledger failed to notify customers about the incidents in time. It claims Ledger will not rectify and strengthen its security measures to prevent data breaches. The lawsuit claims criminals used the leaked data to target users. It claims criminals used the data to steal users' crypto. The lawsuit alleges that Ledger's notification failures caused financial losses that could have been prevented or avoided. The lawsuit claims Ledger violated New York's Stop Hacks and Improve Electronic Data Security Act. It also claims Ledger was negligent. A separate 2026 breach leaked Ledger users' personal data after payments processor Global-e was hacked. The lawsuit does not mention that breach. The lawsuit seeks between $500 million and billions in damages. It demands a jury trial. Ledger said it does not comment on legal matters.