Ledger CEO Says Everyone Will Be Hacked
Pascal Gauthier made the remarks in a Bloomberg Crypto interview, prompting criticism from crypto community users on X.
Updated on Nov. 11, 2026 in Cybersecurity
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Ledger CEO Pascal Gauthier stated that everybody will be hacked at some point and that perfect security does not exist during a November 10 Bloomberg Crypto interview. Crypto community users on X criticized the remarks after a clip was shared by the news account Watcher.Guru.
Why it matters
Gauthier's comments came amid the October 29 Binance breach affecting approximately $6.3 billion in digital assets and broader concern over cryptocurrency theft. Gauthier argued that centralized institutions are vulnerable because they concentrate large amounts of cryptocurrency under one organization.
Reported losses from compromised Ledger devices total roughly $90 million, equal to about 0.01% of the assets Ledger protects, according to figures cited by the company. The investigation into the affected hardware wallets, traced to a third-party reseller in Southeast Asia, has not been fully resolved.
The players
Pascal Gauthier
Pascal Gauthier is the chief executive of Ledger, the hardware wallet company that markets devices designed to protect private keys and digital assets.
Ledger
Ledger is a French hardware wallet manufacturer that sells devices designed to store private keys offline for cryptocurrency holders.
The details
During a Bloomberg Crypto interview, Gauthier said that perfect security does not exist and that Ledger is not immune to potential attacks. Watcher.Guru shared a clip of the remarks on X, where users criticized the comments.
Timeline
October 29, 2026: Binance breach affects approximately $6.3 billion in digital assets.
October 2026: Investigation into compromised Ledger hardware wallets via a third-party reseller begins.
November 10, 2026: Gauthier makes statement during Bloomberg Crypto interview.
November 10, 2026: Suiball announces closure, citing industry attacks.
The Tech Race
Cryptocurrency theft has reached roughly $12 billion so far this year, following about $9 billion stolen last year, placing pressure on hardware wallet makers to defend against attacks. Gauthier's remarks underscore the competitive push among custody providers to position themselves as safer than centralized platforms.
Holders of cryptocurrency who use hardware wallets should understand that such devices reduce but do not eliminate risk, since compromised devices have caused losses. Buyers may also want to verify where a device was purchased, given that the Ledger-linked losses were traced to a third-party reseller.
The takeaway
No security product removes all risk, so holders benefit from combining hardware wallets with careful purchasing and ongoing vigilance. Gauthier's comments suggest that concentrated custody remains a structural vulnerability across the industry.
Further reading
For more background on how digital asset thefts are tracked and defended against, explore Cybersecurity coverage.
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