Pascal Gauthier, CEO of hardware wallet company Ledger, said on Tuesday that security failures remain possible across the cryptocurrency industry.
‘Every Year Is Going to Get Worse’
Gauthier made the comments during a Bloomberg interview, while responding to a question about preventing future Ledger hacks and communicating device safety to customers.
“Everybody will be hacked at some point,” Gauthier responded. “We are entering a world where every year is going to get worse.”
2026 has already become the worst year for cryptocurrency hacks, and by a mile. Nearly $8.7 billion worth of coins have been stolen, according to DefiLlama, more than three times what was stolen in 2025.
Self-Custody Is Still Better than Centralized Exchanges?
Last month, Ledger confirmed that some of its devices contained an unauthorized hardware implant, which led to losses of nearly $90 million.
Interestingly, Ledger’s rival Trezor reported a similar security incident days later, with the same Malaysian reseller, CryptoBilis, at the center of both disputes.
“What I’m saying is $90 million seems like a big number. It’s far less than $6 billion,” Gauthier said, referring to the Binance hack that sent shockwaves across the industry.
He said that the value lost in hardware wallet hacks is a “lot less” than centralized authorities and that the narrative that decentralized security is better than centralized security is still “valid.”
At the same time, he urged the cryptocurrency community not to blame Binance for the attacks.
“Binance is not the criminal. The attackers are the criminals,” Gauthier said. “We all are together in this.”
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