Ledger

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Ledger
Ledger logo header.png
Founded 2014
Headquarters Paris, France
Key People Pascal Gauthier, CEO; Eric Larcheveque, Executive Chairman
Products Cryptocurrency wallets
Twitter @ledgerhq
LinkedIn Profile
Facebook Ledger
Website Ledger Home
Releases Company News
Blog Ledger Blog

Ledger is a major producer of hardware wallets for cryptocurrency security. The company is headquartered in Paris, France.

Products and Services

Wallets

Ledger produces a small wallet called the Nano S, which can be connected via USB to a computer. Ledger also produces Ledger Blue, which is larger and can be connected to both computers and smartphones via USB. Ledger's Nano X is an upgraded Nano S that can be controlled via a mobile app. Both devices handle a number of cryptocurrencies in addition to bitcoin.

Vault

Ledger developed software called Vault, which can hold numerous currencies - including bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, and Dash - in numerous accounts.[1]

In March 2021 the company announced that it had established a new business unit starting with more than 50 staff and looking to grow to 120 by the end of the year that would focus on further development of the Vault business. Called Ledger Enterprise Solutions, the new unit is expected to increase Ledger's institutional custody business.[2]

History

In May 2018, Ledger announced that it is joining the Japanese bank Nomura and investment firm Global Advisors to develop a regulated cryptocurrency safekeeping depository for institutional investors.[3]

The French business magazine Capital reported on April 24, 2019 that Ledger had received a $2.9 million investment from South Korean Samsung, bringing Ledger's total funding to at least $85 million. In a related Tweet, Executive Chairman Eric Larcheveeque hinted that smartphone compatibility for Ledger drove the investment.[4] Earlier in April French online news service Presse Citron reported that Ledger was considering laying off 20% of staff due to a persistent downturn in sales.[5]

Ledger announced on June 10, 2021, that it had raised $380 million in a new funding round from both new investors and investors from previous funding rounds.[6] Pascal Gauthier, chairman and CEO of Ledger, told The Block Crypto that the deal was done at a valuation of $1.5 billion.[7]

Hack

On July 29, 2020, Ledger announced via a blog post that its marketing and e-commerce database had been compromised by hackers in June, exposing customer contact and order information. Ledger said that payment information was unaffected and that the (approximately one million) affected customers had been notified via email. Ledger was reportedly notified about security flaws in its system via a respondent from its bug bounty program on July 14. Although Ledger patched its system to fix the vulnerability, its technicians discovered the vulnerability had already been exploited on June 25. Ledger said that private keys and other information pertinent to the security of customers' digital assets had not been stolen. Days after its discovery of the breach, Ledger filed a report with France's Data Protection Authority (CNIL) and later announced it had partnered with cybersecurity firm Orange Cyberdefense (OCD) to investigate the hacking attack and assess the full extent of the damage, as well as other security vulnerabilities. OCD filed an initial report on July 24, 2020.[8]

In a Tweet on December 20, 2020 Ledger said that it had become aware that customer data presumed to be from the June 2020 hack were posted on Raidforum, an online forum for posting hacked or otherwise compromised information.[9] From the posting of the customer data Ledger first learned that the personal details of 270,000 customers had been stolen rather than the 9,500 it originally believed had been hacked.[10]

John Lothian News

Ledger was highlighted in a recap of Consensus 2018 by contributing editor Chuck Mackie. You can read the article here.

References