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Hardware wallet maker Ledger is facing a class-action lawsuit in the U.S. District Court for the Southern District of New York over a security breach in December 2023, The Block reported. Plaintiffs argue Ledger did not notify customers quickly enough about the breach at the time, failing to prevent further losses.
Plaintiff Douglas Kim said a hacker used leaked personal information to impersonate a Ledger representative and trick him into entering his seed phrase, leading to the loss of about $1.95 million in assets.