Ledger Faces Consumer Class Action Lawsuit in the U.S. Over Alleged Misleading Security Claims

Chicago, April 8, 2025 — Ledger SAS, the France-based manufacturer of popular cryptocurrency hardware wallets, is now confronting a consumer class action lawsuit in the United States. According to Bloomberg Law, the suit accuses Ledger of misleading customers about the security features of its Nano S and Nano X devices, raising questions about the reliability of one of the crypto industry’s most trusted storage solutions. The ruling by U.S. District Judge LaShonda A. Hunt in the Northern District of Illinois has paved the way for the case to proceed stateside, despite Ledger’s attempts to shift it to France under the terms of its sales contract.

Lawsuit Alleges Deceptive Marketing

The plaintiffs claim that Ledger overstated the security of its Nano S and Nano X hardware wallets, devices marketed as “vault-like” solutions for safeguarding cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). Consumers allege that these products failed to deliver the promised protection, exposing users to potential hacks or vulnerabilities. Specific incidents cited in the suit remain under wraps, but the accusations strike at the heart of Ledger’s brand, which has long positioned itself as a gold standard in cold storage for digital assets.

Ledger sought to dismiss the case or relocate it to France, pointing to a clause in its sales contract stipulating that French law governs disputes. However, Judge Hunt rejected this argument on April 7, 2025, ruling that the consumers’ claims hinge on deceptive marketing practices rather than contractual breaches. “The allegations don’t turn on the interpretation or enforcement of the contract,” Hunt wrote, allowing the case to move forward in U.S. federal court.

Ledger’s Role in the Crypto Ecosystem

Founded in 2014 and headquartered in Paris, Ledger SAS operates as a Société par Actions Simplifiée, a French corporate structure akin to a U.S. limited liability company (LLC), offering liability protection for its shareholders. The company has sold millions of hardware wallets worldwide, capitalizing on the growing demand for secure offline storage amid rising crypto adoption. Its flagship products, the Nano S and Nano X, are designed to keep private keys—the cryptographic codes needed to access digital assets—isolated from internet-connected devices, a feature that has made Ledger a household name among crypto enthusiasts.

However, Ledger’s reputation has faced scrutiny before. A high-profile 2020 data breach exposed the personal information of over 270,000 customers, though the company maintained that its devices’ security remained uncompromised. The current lawsuit adds fresh pressure, challenging Ledger’s core promise of “unmatched security” at a time when hardware wallets are increasingly vital for protecting assets in a volatile market.

Legal and Market Implications

The decision to keep the case in the U.S. marks a significant setback for Ledger, exposing it to the complexities of American consumer protection laws and potentially hefty damages if the plaintiffs prevail. Legal experts suggest the ruling could set a precedent for other international crypto firms facing U.S.-based litigation, particularly those relying on foreign jurisdiction clauses to shield themselves from accountability.

On X, crypto users have voiced mixed reactions. Some defend Ledger, arguing that hardware wallets inherently carry user responsibility for proper handling, while others see the lawsuit as a wake-up call for the industry. “If Ledger’s security claims don’t hold up, it’s a big deal—people trust them with millions in BTC and ETH,” one user posted. Bitcoin, trading at approximately $74,000, and Ethereum, near $2,500 as of early April 2025, underscore the stakes for consumers relying on such devices.