Buyers fearful about crypto hacks are driving report demand for {hardware} wallets that retailer digital property offline.
Abstract
- Buyers purchase {hardware} wallets as crypto hacks hit report highs in 2025.
- Ledger sees triple-digit million income amid rising thefts from exchanges.
- Bodily assaults and kidnappings goal crypto holders alongside digital hacks.
As per a report by the Monetary Occasions, Ledger, which sells USB-style gadgets for safe cryptocurrency storage, is having its finest 12 months but with revenues hitting triple-digit thousands and thousands in 2025.
About $2.2 billion price of crypto was stolen within the first half of this 12 months, greater than was taken in the entire of 2024.
The surge in thefts has pushed traders towards chilly storage options provided by firms like Ledger, Trezor, and Tangem as alternate options to holding tokens immediately on exchanges.
Crypto hacks goal people at report ranges
About 23% of hacks focused people’ wallets within the first half of 2025, in line with knowledge agency Chainalysis. The agency known as this an “more and more vital” type of theft as crypto costs hit new report highs.
North Korean hackers stole $1.5 billion price of crypto from trade Bybit in February, marking the most important heist ever. “As we’ve seen a record-setting 12 months in lawful crypto exercise, we’ve additionally seen a record-setting 12 months in illegal crypto exercise,” mentioned Ari Redbord, world head of coverage at TRM Labs.
Ledger CEO Pascal Gauthier advised the Monetary Occasions that hack assaults have gotten extra frequent. “We’re being hacked an increasing number of day-after-day… hacking of your financial institution accounts, of your crypto, and it’s not going to get higher subsequent 12 months and the 12 months after that,” he mentioned.
Ledger was valued at $1.5 billion in 2023 after elevating cash from traders, together with 10T Holdings and Singapore’s True World Ventures.
Bodily assaults rise alongside digital thefts
Rising crypto costs have precipitated elevated criminality round crypto holders. Kidnappings have turn into extra frequent as criminals attempt to bodily seize merchants’ funds.
Ledger’s personal co-founder and his spouse have been kidnapped in France earlier this 12 months. Chainalysis warned that rising crypto costs will most likely trigger “extra opportunistic bodily assaults towards recognized crypto holders.”
