Ledger's new multisig interface sparks backlash over 'cash cow' fees

Crypto hardware wallet provider Ledger recently announced a new multisig interface that has been broadly welcomed as a technical improvement but criticized for introducing a new fee structure that some users have called a cash grab.

The Ledger Multisig application will charge users a flat $10 fee for all transactions except token transfers, which incur a 0.05% variable fee. These charges come in addition to standard blockchain network gas fees, which are independent of Ledger.

Ethereum developer and X user pcaversaccio criticized the move, writing: “You parade as Cypherpunk while trying to make Ledger Wallet (rebranded from Ledger Live) the single choke point for all crypto so you can squeeze everyone through it (guys, this won’t happen).”

Source: pcaversaccio

Some also noted an apparent contradiction between Ledger CEO Charles Guillemet’s emphasis on clear signing as essential for secure transactions and the company’s decision to add recurring fees for those same features.

Inconsistencies between Guillemet’s comments and Ledger’s documentation were also noted, with his remarks suggesting that Multisig is a paid service, while the company’s materials indicated it is free. Guillemet later clarified that mentioning it being free in an earlier post was a typo.

Source: Jrag0x

Related: Ledger and Trezor 2025 hardware wallets released: What’s new for users?

Ledger’s market reach and security record

Ledger is considered the largest hardware wallet provider for cryptocurrency users, having sold over 7.5 million devices over its ten-year history. The company claims its wallets secure roughly 20% of the global cryptocurrency market by value.

Hardware wallets like Ledger’s allow users to maintain self-custody of their digital assets, a core principle of the cryptocurrency movement that emphasizes ownership and control without relying on centralized exchanges.

While hardware wallets are significantly more resistant to typical online hacks — and Ledger reports that none of its devices have been breached in the field — security analysts at Kaspersky warn that users remain exposed to phishing schemes and social engineering attacks. These scams often trick individuals into revealing their private keys or recovery phrases, effectively bypassing the physical security of the wallet.

Related: Inside the $6.5M wallet drain — How users can dodge growing permit-signature traps