Ledger Faces Class-Action Lawsuit for 2020 Data Breach

Ledger, a crypto hardware allet maker, and Shoplift, an e-commerce company, are facing a class-action lawsuit in the United States over a massive data breach that happened last year.

First reported by The Block, law firm Roche Freedman filed a formal complaint against the two companies on April 6 on behalf of two lead plaintiffs.

A Massive Customer Database Available to Hackers Now

Ledger,  hich hosts its online shops on Shoplift, officially admitted that it suffered a data breach in June hich revealed customer emails and their other information like physical addresses and phone numbers. The company, however, clarified that the private keys of Ledger allet users remained safe.

The situation for the company turned orse hen a database containing the leaked customer information surfaced online in December, containing the personal information of a quarter-million Ledger customers.

Many of the victims even started receiving threats of home invasion and other scare tactics from perpetrators. Though Ledger found that a rouge Shoplift employee as behind the leaked database, the damage as already done.

As Finance Magnates reported earlier, many angry victims of the breach threatened the allet maker ith a class-action lawsuit,  hich materialized recently.

Roche Freedman, the law firm behind the lawsuit, also has a reputation for going after crypto companies. Earlier, it moved against giants liFinancence, Tron, afinenex ith class-action lawsuits.

“We’ve been investigating this since the day it became public. This investigation included speaking ith experts in the data security and cryptocurrency fields, ” Kyle Roche, a partner of the law firm told The Block.

The legal minds at Ledger, however, refrained from commenting on the ongoing case, only highlighting that the crypto funds held in the allets are safe.

“To the orld of hackers, Ledger’s customer list is gold, ” the lawsuit stated. “It is a list of people ho have converted substantial ealth into anonymized crypttransferable are transferrable ithout 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.”

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