Has Ledger Recovered From its Data Breach Woes?

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  • Ledger’s data breaches of 2020 finally seem to be behind it
  • The company was forced to disable social media interactions in the wake of the event
  • It seems that both sides have moved on and let the issue lie

Many entrants to the last market cycle may only know Ledger from the hardware wallets they make, but those that have been in the space for longer will remember the data breach scandal from 2020. The situation created a PR disaster for the company, with the ramifications still being felt by the affected users, but there are suggestions that both sides have moved on.

Ledger Data Breach Saw 292,000 User Details Leaked

Ledger’s data breach woes took place in stages in 2020, when a total of 292,000 customers’ names, home and email addresses and phone numbers were stolen. The company denied the existence of the leak for months before the whole thing was published online, which led to a torrent of abuse toward the company.

Affected users were bombarded with phishing emails and phone calls, while some even received ‘free’ replacement Ledger devices loaded with phishing software. Some even suffered harsher repercussions.

As a result, Ledger was forced to disable replies to its Twitter posts after disgruntled users peppered them with reminders over their misconduct, and it seemed like the company might never recover.

Thawing in Hostilities

However, there seems to have been something of a thawing in the attitude of the victims and, for its part, Ledger has responded with two new hardware wallets and other innovations that show it hasn’t been derailed.

The Ledger Nano X was a sleek, albeit premium followup to the Ledger Nano S, whereas the new Nano S Plus is an attempt to compete with the newer range of budget wallets from the likes of Safepal. It is essentially a Nano X but without the bluetooth connection or battery, and the buttons sit on top like the old Nano S instead of being built into the body.

Overall it is a very good quality wallet for the price, and Ledger has added to this with its Ledger Market is a platform for curated NFT drops that enables artists and brands to create, distribute, and store NFTs on its devices.

New Cycle Brings New Customers

The reaction on social media to these updates shows that the waters have calmed somewhat – the replies, now allowed again, no longer feature angry customers ranting about phishing emails or phone calls at 3am. They probably still get them, but the immediacy of the event has passed now.

Ledger also benefits from a new wave of customers coming into the space who have no idea of the issues in the past. While it’s a fair bet that many of those affected by the data breach will never buy a Ledger device ever again, the fact is that the devices themselves are very good quality and still some of the best out there, something that the company’s new customers are finding out.

By the time the new market cycle starts the water will have passed completely under the bridge and everyone will have moved on, leaving the event as an unfortunate incident long forgotten.