According to CoinMeta, Ledger was subjected to a class-action lawsuit due to a security incident in December 2023, with claims totaling at least $500 million. The lawsuit alleges that the hardware wallet manufacturer failed to adequately protect customers' personal identification information and encrypted security data, resulting in customers facing cryptocurrency theft and other financial losses. The plaintiffs Douglas Kim accuse Ledger of failing to notify customers promptly after the incident and of not fully disclosing the extent of the issue. The lawsuit mentions that hackers used customers' contact information to impersonate representatives of Ledger and obtained their encrypted wallets and private keys. The complaint lists seven counts, including violations of New York business law, negligence, and negligent false statements.