ZachXBT mocks Ledger's US IPO: just to maximize profit extraction

BlockBeats News, January 23 — On-chain detective ZachXBT critically evaluated hardware wallet manufacturer Ledger’s plan to go public in the US, stating that the French hardware wallet maker Ledger has been repeatedly hacked, leading to the leakage of customer private data and targeted thefts, resulting in millions of dollars in losses. Currently, Ledger’s products also have some major issues, such as battery problems with the Ledger Nano X. Ledger recently announced that it will charge a certain percentage fee for clear signing, and today’s IPO plan is merely to maximize profits.

Ledger’s biggest security incident in history was the leak of an e-commerce database in June 2020. Hackers exploited a misconfigured third-party API key on Ledger’s website to illegally access its e-commerce and marketing databases, resulting in over 1 million email addresses being leaked, including approximately 272,000 full personal details such as real names, mailing addresses, and phone numbers.

Earlier today, Ledger announced plans to go public in the United States, with a valuation possibly exceeding $4 billion. The company has partnered with Goldman Sachs, Jefferies, and Barclays to advance this transaction, which could be completed as early as this year.