“Where there are hackers where there are money”: Ledger CEO

In a recent interview with Bloomberg TV, ledger CEO Pascal Gauthier highlighted the importance of robust security measures in the cryptocurrency world.

Citing the immutable nature of Bitcoin transactions, he warned that while Bitcoin itself is designed to be safe, the platform on which digital assets are stored (crypto exchanges) will give back the main targets of hackers.

“Where there are money, there are hackers,” Gauthier argued, emphasizing that the financial sector, including Bitcoin (BTC) and other cryptocurrencies, will attract malicious actors as more money flows into the system.

The CEO explained that Bitcoin design inherently encourages self-explanatory dodi, urging users not to leave their digital assets where vulnerabilities exist.

“Don’t leave coins in exchange,” he advised. If users choose to do so, it is essential that the exchange’s security measures are virtually inexplicable.

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He further elaborated that Ledger has been dedicated to improving security protocols for the past decade, providing consumers with a reliable way to store cryptocurrency securely through independent solutions.

The CEO of ledger said that similar to traditional banking practices is that digital assets have an alternative to self-supporting and self-supporting, just as people deposit money in banks rather than keeping cash in their homes.

These comments followed a massive security breaches that led to a $1.5 billion bibit hack on February 21.

The attack targeted Exchange’s Ethereum Cold Wallet by hackers bypassing the multi-signature protocol. Blockchain analysts have linked the breach to the North Korean Lazarus group and linked it to the well-known cyber theft.

Gauthier emphasized that Ledger’s technology (performing by selling 8 million hardware wallets) offers superior options compared to outdated methods, such as literally keeping money under your own mattress.

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