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

Ledger's recent launch of a new multisig interface has been met with user praise for its technical improvements, but also backlash due to new transaction fees. The application imposes a flat fee of $10 on all transactions, except for token transfers, which incur a 0.05% variable fee, alongside standard blockchain gas fees. Critics, including Ethereum developer pcaversaccio, argue that this creates a bottleneck in the crypto ecosystem and labels the fees as a cash grab. Discrepancies have also arisen between statements made by Ledger CEO Charles Guillemet regarding fees being free versus the documented charges, leading to allegations of misleading communication. Despite these controversies, Ledger maintains a strong market position, claiming to secure around 20% of the global cryptocurrency market by value. The company has thus far reported no breaches of their devices but warns users against phishing schemes that target private keys and recovery phrases.

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