Ledger Boss Says Crypto Firms Will Keep Getting Hacked

Pascal Gauthier told Bloomberg that absolute security is impossible for any crypto business. He warned that attacks are scaling up fast, with AI and quantum computing creating fresh risks for the whole sector.

The recent Binance breach, which saw roughly 6 billion dollars stolen, highlighted the dangers of centralized custody. Gauthier pointed out that Bitcoin was built on the idea of avoiding reliance on a single middleman, even though centralized services still play a role.

Thieves took 9 billion dollars in crypto last year and another 12 billion so far this year. While Ledger’s decentralized approach limits losses to about 0.01 percent of assets under protection, Gauthier stressed that breaches cannot be fully prevented and urged the industry to tackle threats together.

Based on information from cryptonews.net