The Block reported that hardware wallet manufacturer Ledger is facing a class-action lawsuit in the U.S. District Court for the Southern District of New York (SDNY) in connection with a security breach that occurred in December 2023. The plaintiffs allege that Ledger failed to promptly notify customers of the security breach at the time, thereby failing to prevent further damage. Plaintiff Douglas Kim stated, "Hackers used the leaked personal information to impersonate Ledger officials and trick me into entering my seed phrase, losing approximately $1.95 million worth of assets in the process."
