I lost my RETIREMENT savings with the ledger swap function

Hello Community,  

 

I tried to swap 725000 DOGE for 4.08 BTC on Sunday, November 6th, 2022 via the ledger live app. I used the in app swap function which is directly provided and promoted by ledger. 

 

The partner for this swap was FTX. On Sunday there was NOT a single warning from ledger and they offered the SWAP function as usual. But this swap failed badly! (Swap ID: 8dbdff44-efe6-4b3e-803c-ce8ff82d0a48)

 

My DOGE are gone and I received nothing back! Ledger says the transaction is “Onhold” or “Unknown” and the customer support is just pointing to FTX. No further information of the swapstatus, no clear statement where my funds, no help at all…

Transaction ID: https://dogechain.info/tx/37e07cf12c0a3387010934b6b92e35a56790ca2c78f03c6c32c4f792c99945da

 

That’s not at all what I expect from a in house SWAP function!! As I said I used the application because I had much trust in ledger and their products. 

 

Now I lost all my retirement savings!

 

So doesn’t ledger take any responsibility for their application, their swap function, and their clients? Just pointing to a broke partner, because it’s convenient?? Is that the way to do business nowadays?. I am deeply disappointed!

 

Ledger I expect an answer and help from the management / CIO here! My Ledger Support – Case ID is 593116. You can't do business like that with customers that trusted you and paid you a lot of money.   

 

If someone can help me to follow the fund route further I would be very thankful.

 

Many greetings 

Mario

I lost my RETIREMENT savings with the ledger swap function

50 thoughts on “I lost my RETIREMENT savings with the ledger swap function”

  1. The Ledger subreddit is continuously targeted by scammers. Ledger Support will never send you private messages. Never share your 24-word recovery phrase with anyone, never enter it on any website or software, even if it looks like it’s from Ledger. Only keep the recovery phrase as a physical paper or metal backup, never create a digital copy in text or photo form. Learn more at https://reddit.com/r/ledgerwallet/comments/ck6o44/be_careful_phishing_attacks_in_progress/

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  2. The general consensus seems to be that ledger is just the best out of the few options that exist. A lot of people consider the whole bunch of partnerships to go against what the product’s target audience is looking for. I guess just selling hardware every once in a while doesn’t cover the continuous fees for development and customer support so, I suppose, they made a bunch of deals with companies to implement their services. – Including the decision to partner with a CEX for a product that aims at people trying to get away from CEXs. Even if it is only for the period of the swap. But I guess if the exchange enables deposits but disables withdrawals, you end up donating your crypto to a failing business without even knowing it.

    Not that any of this helps you now. Sorry for your loss.

  3. Man thats fucked up!!!! I cant believe your in this terrible position and it makes me think twice about ledger. Hope things get resolved. Keep us updated

  4. What do you really expect ledger to do here?

    This whole thing only started to unfold on the 7th when Binance announced they were ditching FTX. Ledger paused their swap function on the 9th.

    Did you really think sending 725000 doge in one go, without first doing a small test transaction, was a good idea?

  5. Hi Mario, I get your frustration but this is the third time you post your story. Think the previous replies gave you enough information, I think you should stop posting the same over and over. Nothing will change, Ledger didn’t mess up.

  6. Why in gods name did you have your retirement savings in Doge? This has got to be a troll

  7. Its common sense that If you risk everything you stand to potentially loose everything. Ive seen alot of people loosing heaps of money in similar ways, sending everything they have in one transfer and something goes wrong and then after the fact they apparently care because it was so much money. You went all in on something you didnt know for sure was going to work, if you dont know its gonna work, if youve had no experience with it or theres alot at stake, you do small tests first, you shouldnt put everything you have into anything all at once or fully trust anyone or anything. Its fair to say you didnt really care about your money enough, cause you did such a careless thing with it, moving it through a system without certainty or a known failsafe, if you had of been more careful you wouldnt of put everything on the line and rather would of only lost a tiny amount to a failed test.

  8. I do wonder what a lawyer or judge in the eu would make of this? Could ledger actually be held accountable for not closing the function knowing of the ongoing turmoil?

  9. Ledger did their part by sending your DOGE to FTX. FTX are to be held responsible since they didn’t deliver on their end of the deal. Wrong sub my friend, go join the qeue of millions of others who were screwed by FTX.

  10. They gone for good. FTX is bankrupt and they will not return you back your crypto.

  11. And didn’t do a test with a small amount, all comes down to user error. Can’t blame ledger for your fuck up!

  12. I actually felt really bad for you until I thought about the retirement in doge more… you were going to lose it regardless

  13. sorry for your loss, i understand that you are looking for someone to blame BUT you can’t call them out on the fact they didn’t issue out a warning. Up to the point of your action they had the same knowledge as you should’ve had. So if you didn’t see an orange/red flag not sure why you would think Ledger had one?

    on a separate note: you put your saving into a meme coin of which the value rises or collapse by the tweets of a person that shows up in the office carrying a sink?

  14. Always do a small test transaction first, even with high transaction costs. I’m paranoid so I do a micro transaction first, then another small one.

  15. C’mon ….60k and you didn’t do a test transaction to see if it works first?????

  16. There’s a lot of people that are implying that the fact that the transaction included Dogecoin somehow invalidates the transaction. If at the moment of the transaction ledger was standing behind the swaps then they need to address it.

    If the reality is they were dependent upon in exchange to execute the swap and they were just presenting themselves as a gate that needs to be acknowledged as well.

    Ledger did significant comarketing with FTX. Are all the coins the people held in their ledger via the FTX exchange accessible and transferable? These are the fundamentally important considerations of FTX’s collapse.

  17. Always do a test transaction first for any significant amount… Sorry for your loss.

  18. Nothing besides legal action against ledger has a chance of bringing your money back… Sorry and good luck!

  19. The status message OnHold usually tells you to contact FTX directly for a solution. I had this same issue occur randomly. Your conversion will of failed inside FTX and the coins will of stayed on FTX side. When this happened to me previously I had to manually login to FTX and send the coins back out to my wallet to retrieve them.

    Unfortunately due to the circumstances it would appear your DOGE are now locked inside FTX and you will be part of the bankruptcy proceedings that follow.

    I would advise reading over the terms of service from the Ledger side and see what agreement was made regarding responsibility of the swap function.

    Not sure what else to advise. I am terribly sorry for your circumstances and I really hope you manage to find a resolution.

  20. Have you looked into Ledger‘s terms of service? What are they saying about lost funds?

    If you don’t get help here, get a lawyer.

  21. Troll? 1. Why do u have ur whole life savings in doge 2. 60k and why didnt u do a test send first 3. U knew about ftx and still used ledger live swap function knowing it was by ftx?

  22. Since this is a repost I’ll repost the same answer. Please do not create multiple posts.

    Ledger does not operate this service. Please see the Terms of Use of Ledger Live, section 5.2 – https://shop.ledger.com/pages/ledger-live-terms-of-use

  23. I see somebody who trusted a Ledger application. He is not so technical and did not realize the background. It seems to me that it is a bad bad mistake that he trusted this Ledger application. I also see no comment from Ledger.

    Maybe that is some hint for all of us. Don’t click on any button on a Ledger application before reading through all Terms of Service. You funds may be lost and nobody from Ledger will help.

    Maybe legally correct. But not what I would have expected from Ledger

  24. Mario, dont stop posting this. Continue to post until you get an answer.

    People should know that Ledger knowingly allowed their customers to expose their money to a fraudulent company for weeks.

  25. This just shines light on how far services need to mature before this tech is ready for everyone, folks like my mom would get screwed without knowing.

  26. Damn dude, im sorry to hear that. I hope you’re able to recover your funds brotha!

  27. The main point here being FTX blocked withdrawals but did not block deposits. That should be mandatory under these circumstances.

  28. Ledger should take more responsibility for the services in their app. I personally do not use them. Lido and Kiln are great examples of things that could go wrong and have risk even with the use of your ledger

  29. And this is why Ledger shouldn’t include these kind of integrations. Having them in the app give a false sense of security and Ledger is unable to assess and communicate the risks effectively.

  30. oof! not ledger’s responsibility they r gone. read the t&c’s & why no test swap of small amount first smh

  31. Dear Mario, I don’t understand why you didn’t make a test swap or divided them into different phases to avoid such problems, just visit cyber crime and make a case against FTX, keep the evidence and transaction with you.

    Warning:

    -Don’t enter your seed into anything except the Ledger device itself.

    -Download / update ledger live software from official website only.

    -Never use search engine to access ledger website.

    -Ignore all messages in your inbox and mark them as spam.

    -Never click links or install software from an e-mail.

    -Never respond to someone request to download remote applications(Team viewer, anydesk and etc.)

    -Always conduct a small amount test while sending or receiving your funds and verify that the correct wallet address was copied/pasted into address bracket.

    -Verify your ledger live is authentic:

    https://www.reddit.com/r/ledgerwallet/comments/w28gjj/comment/igomi2a/?context=3

    -Legit ledger app:

    https://apps.apple.com/us/app/ledger-live-crypto-nft-app/id1361671700

    -Report scam to:

    team-brand-protection@ledger.fr

    https://scam-alert.io/

    -How I Got Hacked:

    https://www.youtube.com/watch?v=KT04055IcNw&list=PL6VM0N695IhlM4rIc3lINb6m60gonDUZk&index=1

  32. Quite possibly the worst times financial transaction in history. Dude I’m so sorry this happened to you. That stuff is gone. Damn.

  33. It sucks. Ledger throws up a warning about using features that rely on third party. Still have to DYOR with ledger.

  34. This is strange because on 11/6 the price of FTT was between $22-23 according to CMC. This was the day of the original CZ post. Things to my knowledge took a couple of days to shake out so this to me is suspicious. Regardless, I pray you are able to recover your funds..

  35. Like Mercedes, they removed the Partnership.

    Ledger has to be responsible for their Partners.
    What to expect from a company Not being responsible for their choice of Partner even If they know They are bancrupt.

    Richtig abgefucked auf jeden Fall, wie können die einen Partner live lassen der soviele Leute verarscht hat und offensichtlich Zahlungsunfähig ist.

    Wirft ein extrem schlechtes Licht auf Ledger und die Auswahl der Partner.

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