diff --git a/cli/pg2-util/dfu_load.c b/cli/pg2-util/dfu_load.c
index f8941ab..b8caa05 100644
--- a/cli/pg2-util/dfu_load.c
+++ b/cli/pg2-util/dfu_load.c
@@ -204,7 +204,7 @@ bool dfu_load(const firmware_image_t *image, libusb_device *dev, libusb_device *
     /* wait for the new device to appear */
     post_hotplug = hotplug_await(hotplug_state);
     if (loaded_device)
-        *loaded_device = libusb_ref_device(post_hotplug);
+        *loaded_device = post_hotplug ? libusb_ref_device(post_hotplug) : NULL;
 
  cleanup:
     if (handle)
diff --git a/cli/pg2-util/mem_load.c b/cli/pg2-util/mem_load.c
index f99601f..2188fe1 100644
--- a/cli/pg2-util/mem_load.c
+++ b/cli/pg2-util/mem_load.c
@@ -103,7 +103,7 @@ bool mem_load(const firmware_image_t *image, libusb_device *dev, libusb_device *
     /* wait for the new device to appear */
     post_hotplug = hotplug_await(hotplug_state);
     if (loaded_device)
-        *loaded_device = libusb_ref_device(post_hotplug);
+        *loaded_device = post_hotplug ? libusb_ref_device(post_hotplug) : NULL;
 
  cleanup:
     if (handle)