Ledger, a leading crypto hardware wallet provider, has introduced a new multisig interface that, while technically praised, has sparked backlash due to its fee structure. The Ledger Multisig application imposes a $10 flat fee for transactions, excluding token transfers which incur a 0.05% variable fee. These fees are in addition to standard blockchain network gas fees. Critics, including Ethereum developer pcaversaccio, have labeled the fees as a 'cash grab,' arguing they contradict Ledger's cypherpunk ethos.
Controversy also arose from inconsistencies in statements by Ledger CEO Charles Guillemet, who initially suggested the multisig service was free, later clarifying it was a typo. Despite the backlash, Ledger remains a dominant player in the hardware wallet market, securing approximately 20% of global cryptocurrency value with over 7.5 million devices sold. However, security experts caution users about phishing and social engineering risks, which can compromise even the most secure hardware wallets.
Ledger Faces Criticism Over New Multisig Interface Fees
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