Ledger CEO Pascal Gauthier's statement "where there's money, there will be hackers" highlights the constant threat of cyber attacks in the financial world, especially in the cryptocurrency space. Gauthier's warning comes after a major security breach resulted in a $1.5 billion hack of Bybit on February 21. The attack targeted the exchange's Ethereum cold wallet, with hackers bypassing multi-signature protocols.

Gauthier emphasized the importance of robust security measures, urging users not to leave their digital assets on exchanges where vulnerabilities exist. Instead, he recommends using self-custody solutions, like Ledger's hardware wallets, to store cryptocurrency safely.

In a recent interview on Bloomberg TV, Gauthier stressed that Bitcoin itself is designed to be secure, but the platforms where digital assets are stored remain prime targets for hackers. He also noted that as more funds flow into the system, the financial sector, including Bitcoin and other cryptocurrencies, increasingly attracts malicious actors.

Gauthier's concerns are not unfounded, as Ledger itself experienced an exploit on its Ledger Connect Kit in December 2023. The incident was quickly contained, but it highlights the ongoing battle against cyber threats in the cryptocurrency space.#HackerNews