According to Pascal Gauthier, the CEO of cryptocurrency hardware wallet Ledger, the recent hack of the top ranking crypto exchange—Binance, has led to an increase in sales of his company’s products. This spike in sales is born out of the people’s fear for the safety of their funds.
Big Reveal at the Atomic Swap Conference
The CEO made this known recently at the Atomic Swap conference in New York.
He revealed the increase in sales during the discussion on the future of money and the importance of security in the cryptocurrency space.
There, Gauthier said:
“Binance got hacked, and the day Binance got hacked, our sales doubled.”
Binance which was recently hacked lost about $40 million to the security breach. The hackers reportedly exploited the exchange’s API, 2FA, and withdrawal validation areas. The exchange has since then made some “significant changes” to these areas.
Furthermore, Gauthier revealed that Ledger believes cryptocurrencies are a “great technology” that has a weakness in…