diff --git a/libusb/hotplug.c b/libusb/hotplug.c
index deb138d..b6f896a 100644
--- a/libusb/hotplug.c
+++ b/libusb/hotplug.c
@@ -198,10 +198,11 @@
 			/* remove the device from the usb_devs list only if there are no
 			 * references held, otherwise leave it on the list so that a
 			 * warning message will be shown */
-			if (usbi_atomic_load(&dev->refcnt) == 1)
+			if (usbi_atomic_load(&dev->refcnt) == 1) {
+				++devices_released;
 				list_del(&dev->list);
+			}
 			libusb_unref_device(dev);
-			++devices_released;
 		}
 	} while (devices_released > 0);
 
diff --git a/libusb/version_nano.h b/libusb/version_nano.h
index 21591b9..3924959 100644
--- a/libusb/version_nano.h
+++ b/libusb/version_nano.h
@@ -1 +1 @@
-#define LIBUSB_NANO 11624
+#define LIBUSB_NANO 11625