The class action seeks damages between $500 million and several billion dollars
Ledger has been named in a class action filed on 27 August by Douglas Kim, a user of the company. Kim says he lost nearly $2 million to thieves who allegedly used data stolen from Ledger to target his digital assets.
According to the lawsuit, Ledger allegedly acted negligently regarding the security and protection of customers’ personally identifiable information. The complaint concerns the 2020 breach and the 2023 phishing attack.
In 2020, the personal data of nearly 300,000 Ledger users was disclosed and uploaded to an online marketplace for stolen data. According to the lawsuit, criminals allegedly used the disclosed data to target users and steal digital assets.
The lawsuit also claims that Ledger allegedly downplayed the breaches, informed customers late and failed to adequately strengthen its security measures. It also accuses the company of violating New York’s Stop Hacks and Improve Electronic Data Security Act. It seeks damages between $500 million and several billion dollars and a jury trial.
