Ledger Hardware Wallets Affected by FTX Earthquake - CTO

Some Ledger users were unable to process withdrawals using Ledger Live on Wednesday, according to social media reports.< /p> New

Hardware-based cryptocurrency wallet provider Ledger has run into trouble due to massive outflows from crypto exchanges amid the FTX bloodbath, according to its CTO.

Ledger saw "heavy usage" of its platforms and experienced "some scalability issues" on Nov. 9, Ledger CTO Charles Guillemet reported in a statement on Twitter.< /p>

Guillemet justified Ledger's problems with the results of the current crisis of a major global cryptocurrency exchange, FTX. The CTO said crypto investors are increasingly moving their holdings from crypto exchanges to Ledger, stating:

"After the FTX earthquake, there is a massive exodus of exchanges to ledger security and self-sovereignty solutions."

According to Guillemet, Ledger should have resolved the outages from 5:30 UTC.

Ledger first reported the wallet issues on November 9 at around 23:00 UTC, officially announcing that its hardware wallet interface application Ledger Live was experiencing degraded server performance.

“Specific issues may vary, including logging into the My Ledger tab and performing a genuine verification,” Ledger said in a tweet, adding that the client's assets were safe.< /p>

The hard wallet company then took to Twitter to announce that they had resolved the server outage about an hour after discovering the issue. "Our server outage has been resolved and all systems are operational," Ledger said, adding that their server outage has been resolved and all systems are operational.

Previously, Ledger Support also announced that they have also temporarily suspended FTX and FTX.US sw...