Wallet Maker Ledger Faces Lawsuit Over Covering Up Of Data Breach

Crypto wallet maker Ledger faces a lawsuit over data breach cover-up after customers filed a class-action lawsuit recently so let’s read more in our latest crypto news today.

In the data breach, customer data, personal documents, and emails were compromised so now Ledger and Shopify are facing both a class action lawsuit. Customers of the wallet maker Ledger are suing the company for the alleged cover-up of the data breach. The initial complaint that was filed with the US District Court for the Northern District of California, alleged that Shopify and Ledger partnered together and “negligently allowed, recklessly ignored and intentionally sought to cover up the breach.” Any damages awarded to the plaintiffs will be determined at trial if the lawsuit goes that far.

Ledger sells hardware wallets which are physical storage devices that let you hold crypto offline and the idea here is that they are not as vulnerable to attacks as the wallets that keep your money online. The company announced that the hackers acquired 1 million customer emails from the servers along with a list of associated email addresses but no funds were stolen.
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However, users said that they were exposed as their personal data has been leaked:

 “To the world of hackers, Ledger’s customer list is gold. It is a list of people who have converted substantial wealth into anonymized crypto-assets that are transferable without a trace. Using that list, hackers can manipulate or compel those owners to make untraceable and irreversible transfers of the crypto-assets into the hackers’ accounts. The stakes of security for crypto-assets are thus enormous.”

Ledger General Counsel Antoine Thibault said that the company doesn’t comment on current legal issues:

“Ledger would however like to take this moment to remind our customers, yet again, never to divulge their 24 words and validate the identity of the recipient of your transactions. You are in sole and total control of access to your funds.”

Last year, CEO Pascal Gauthier said that he doesn’t plan on compensating the customers after the hack:

 “When you have a data breach of this magnitude for such a small company, we won’t reimburse for a million users, all the devices, that’s just not possible. It would just kill the company.”