Ledger has been hit with a proposed $500 million class action alleging that data leaks let scammers impersonate its staff and steal users' crypto.
The suit, filed in the Southern District of New York on August 27 by lead plaintiff Douglas Kim, says a scammer posing as a Ledger representative sent him to a fake support site and told him to enter his recovery phrase to reset his device. Two days later, $1,948,074 in crypto was gone.
It ties the theft to Ledger's 2020 data breach, which exposed personal details of more than 270,000 customers, and to fresh February 2026 phishing letters that mailed victims to fake Ledger sites.
Kim is bringing the case on behalf of a proposed nationwide class, accusing Ledger of failing to protect customer data. Ledger has repeatedly said it never stores users' recovery phrases, which a user must enter themselves for any such theft to occur.
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