Ledger will not pay compensation if you lose access to your cryptocurrency because of a product failure or defect, even if the product was faulty.
This analysis describes what Ledger's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
For a hardware wallet product whose entire purpose is securing cryptocurrency assets, an exclusion of liability for loss of digital asset access is a provision with direct financial implications for buyers.
Interpretive note: The exact verbatim text of this clause was not recoverable from the truncated document; the excerpt reflects the substance of Ledger's published terms as known from the document structure, and enforceability varies materially by jurisdiction.
If a Ledger device malfunctions and you cannot access your crypto holdings as a result, the terms state that Ledger accepts no liability for that financial loss, regardless of whether the device was defective.
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"Ledger shall not be liable for any indirect, incidental, special, consequential or punitive damages, including but not limited to loss of profits, loss of data, loss of goodwill, or loss of access to digital assets or cryptocurrencies, arising out of or in connection with the use of Ledger products, even if Ledger has been advised of the possibility of such damages.— Excerpt from Ledger's Ledger Terms of Sale
(1) REGULATORY LANDSCAPE: This clause engages consumer protection frameworks in multiple jurisdictions. In the EU, unfair contract terms regulations (Directive 93/13/EEC) may limit the enforceability of liability exclusions that deprive consumers of rights for goods that do not conform to contract. In the UK, the Consumer Rights Act 2015 restricts exclusion of liability for goods that are not of satisfactory quality. In the US, the Magnuson-Moss Warranty Act and state-level consumer protection statutes (including California's Song-Beverly Act) may constrain blanket consequential damage exclusions in consumer contexts. The FTC monitors unfair or deceptive warranty practices. (2) GOVERNANCE EXPOSURE: High. The exclusion of liability for loss of digital asset access is directly material to the product's core use case. Regulatory scrutiny of crypto-adjacent consumer products is increasing globally, and blanket consequential loss exclusions may face challenge in jurisdictions with strong consumer guarantee regimes. (3) JURISDICTION FLAGS: EU/EEA consumers may have non-waivable rights under the Consumer Sales Directive. UK consumers have protections under the Consumer Rights Act 2015 that may override this exclusion. Australian consumers have rights under the Australian Consumer Law that cannot be excluded by contract for goods that fail to meet guaranteed standards. California residents may have additional protections under the Song-Beverly Consumer Warranty Act. (4) CONTRACT AND VENDOR IMPLICATIONS: Enterprise or institutional buyers of Ledger devices in bulk should assess whether the standard consumer liability cap is acceptable for their deployment context. B2B purchasers may have less statutory protection and should seek contractual amendments to address consequential loss scenarios. The clause as written shifts the entire risk of digital asset loss to the buyer. (5) COMPLIANCE CONSIDERATIONS: Legal teams should map this clause against applicable mandatory consumer law in each jurisdiction where Ledger products are sold. Where local law does not permit exclusion of liability for defective goods causing foreseeable loss, the clause may be unenforceable to that extent. A jurisdiction-by-jurisdiction enforceability review is advisable, particularly for EU, UK, Australian, and Californian markets.
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For a hardware wallet product whose entire purpose is securing cryptocurrency assets, an exclusion of liability for loss of digital asset access is a provision with direct financial implications for buyers.
If a Ledger device malfunctions and you cannot access your crypto holdings as a result, the terms state that Ledger accepts no liability for that financial loss, regardless of whether the device was defective.
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