“Everybody will be hacked”: Ledger’s warning puts wallet security to the test

Ledger CEO Pascal Gauthier’s warning that everyone will eventually be hacked came after attackers put hidden components inside genuine hardware wallets to capture recovery phrases. The incident brings the security question beyond the private key stored in a chip. A holder also depends on the device reaching them intact, the backup remaining private and the screen accurately explaining what they are about to approve. “Everybody will be hacked at some point. Perfect security doesn’t exist,” Ledger CEO Pascal Gauthier said during a Bloomberg interview on November 10 . He said the rule applied to Ledger as well as other companies. The question put to him concerned thefts associated with modified hardware wallets.

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