On July 22, 2023, Ledger, one of the main manufacturers of cryptocurrency hardware wallets, was the victim of a cyber attack (phishing targeting employees) which led to the theft of sensitive data of over 1.5 million users.
Unfortunately, this data included names, email addresses, IP addresses, passwords and in some cases PRIVATE KEYS.
Ledger hired a cybersecurity firm to investigate the attack and implement security measures to prevent future attacks, and announced the launch of new hardware with new security features.
Following the attack, LEDGER announced a two-phase plan to reimburse users who suffered financial losses.
PHASE 1: immediate refunds
Ledger has already reimbursed users who suffered financial losses of less than 10,000 euros. Refunds were made via bank transfer and have already been completed for the majority of affected users.
PHASE 2: refunds exceeding 10,000 euros
For refunds above 10,000 euros, Ledger has created a fund of 100 million euros. Refunds will be made based on a number of criteria, including the size of the loss, the date the transaction was made and the type of cryptocurrency.
Ledger said it is committed to refunding all attractive users by February 2024.
Bottom line, Ledger was quick to refund most users, but still hasn't finished the entire process. The story shocked the community which is partly disheartened, but there is also a large portion of users who appreciate Ledger's speed in intervening.
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