CEO of Ledger Urges Crypto Users to Prioritize Security
In a recent Bloomberg TV interview, Ledger CEO Pascal Gauthier highlighted the critical need for strong security in the crypto world.He pointed out that while Bitcoin transactions are secure by design, crypto exchanges are still vulnerable to attacks.
Gauthier warned, “Where there’s money, there will be hackers.” As more funds enter the crypto market, the risk of cyber threats grows. he advised users to avoid keeping their coins on exchanges,which can have security flaws. Instead, he recommended self-custody solutions.
For a decade, Ledger has focused on enhancing security protocols. Their hardware wallets offer a safer way to store digital assets. Gauthier compared this to conventional banking, where people deposit money in banks rather than keeping it at home.
These comments come after a significant security breach at Bybit, where hackers stole $1.5 billion from an Ethereum cold wallet. Analysts linked the attack to north Korea’s Lazarus Group.
Gauthier believes Ledger’s technology, with eight million hardware wallets sold, is a better choice than outdated methods. He encourages users to prioritize secure storage for their crypto assets.
