Ledger’s latest product rollout — featuring its new native multisig system, the Nano Gen5 hardware wallet, and a redesigned Ledger Wallet app — has sparked strong debate across the crypto community. While the update was meant to enhance security and convenience, many developers and long-time users say the company’s new pricing model risks alienating its core base.
The new multisig feature marks a significant milestone for Ledger: it’s the company’s first in-house coordination system for multi-signature wallets. This means users can now authorize transactions directly through Ledger’s infrastructure rather than relying on third-party tools such as Specter or Sparrow. The goal, according to Ledger, is to simplify coordination and improve the overall user experience.
However, the move has drawn criticism for introducing new per-transaction fees. Under the current model, users pay a $10 flat fee for standard transactions and a 0.05% charge on ERC-20 token transfers — on top of regular blockchain network costs.
Developers and security researchers were quick to voice concern. “pcaversaccio,” a core contributor to the crypto-security network SEAL-911, argued that the structure effectively turns multisig transactions into a “cash cow,” straying from Ledger’s open, cypherpunk origins.
yesterday Ledger announced a new Safe multisig interface that supports clear signing. Overall a good move, I thought (interface diversity is good). Well, guess what, they charge a "Multisig Fee" on top of gas: $10 flat for normal txs, 0.05% for token transfers. You might say… pic.twitter.com/60UPic3N4Y
— sudo rm -rf --no-preserve-root / (@pcaversaccio) October 24, 2025
Another developer, “Sarnavo” from Avalanche’s Team1 project, acknowledged that the addition of clear signing — a feature that lets users verify human-readable transaction details before confirming — is a step forward for safety. But they criticized Ledger for placing that safeguard behind what they described as a “paywall.”
Ledger, the “industry leader” with 6M+ devices sold and millions of users securing billions in crypto; just dropped a new “multisig” feature that’s got the entire crypto community frustrated.
— Sarnavo🔺 (T1/acc) (@0xSarnavo) October 24, 2025
Here what they have added and problems:
1. Clear Signing
2. New multisig fees ($10 on… https://t.co/FkUGfR88A0
“Security shouldn’t be monetized per transaction,” they wrote, noting that Ledger’s closed-source interface leaves users unable to independently verify how their transaction data is handled. The company’s undisclosed coordination service for managing multisig signatures has also fueled transparency concerns.
The new multisig feature is also unavailable on the original Nano S — once Ledger’s flagship model and still one of the most widely used hardware wallets. Because the Nano S lacks the technical capacity to support clear signing or the new coordination framework, many long-time customers say they feel left behind.
Security researcher pcaversaccio described the situation bluntly, saying Nano S users are “basically censored” by Ledger’s shift toward premium, fee-based features.
As Ledger continues to evolve its product line, the company faces a balancing act between advancing user security, maintaining transparency, and ensuring accessibility for its established community. Whether this new model strengthens Ledger’s position or fractures its loyal base remains to be seen.
