Ledger’s New “Secure” Wallet Sparks Fury Over Unexpected Fees
Ledger, the leading crypto hardware wallet manufacturer, faces backlash following its October 23 announcement of a new enterprise multisig service. Built on Safe with on-device clear signing for Nano Gen5, the product was marketed as a security upgrade but drew ire for its fee structure.
The service charges a $10 flat fee per transaction plus a 0.05% variable fee on token transfers—positioning it among the most expensive wallet solutions available. Criticism intensified after CEO Pascal Gauthier initially described the service as free on social media, only to retract the statement post-launch.
Ethereum developers and community members accused Ledger of centralizing assets into a single point of failure while monetizing what was promised as a security enhancement. The episode underscores growing tensions between corporate monetization strategies and crypto’s decentralized ethos.
