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Reading: Cybercrime Costs Cryptocurrency Investors Billions as Hardware Wallets Rise in Importance
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Cybercrime Costs Cryptocurrency Investors Billions as Hardware Wallets Rise in Importance

News Desk
Last updated: September 14, 2025 11:40 pm
News Desk
Published: September 14, 2025
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tangem wallet

Cybercrime poses a significant threat to digital assets, with investors losing billions annually to hacks, scams, and exchange failures. In 2023, the FBI’s Internet Crime Complaint Center reported a staggering $3.94 billion in cryptocurrency fraud in the United States, representing a 38% increase from the previous year. Similarly, the UK’s Financial Conduct Authority (FCA) has identified a rise in phishing and wallet theft cases.

For both casual traders and seasoned investors, one fundamental truth remains: “not your keys, not your coins.” This principle underscores the need for hardware wallets, often referred to as cold wallets, as they safeguard private keys offline, making it impossible for hackers to access funds, even if online exchanges or wallets are breached.

In this context, the Tangem Wallet has emerged as a frontrunner in 2025, combining Swiss engineering with top-notch security and user-friendliness. Unlike conventional USB-based wallets, the Tangem Wallet resembles a slim credit card and utilizes secure chip technology. According to Tangem AG, based in Zug, Switzerland, the wallet’s chip is certified at EAL6+, one of the highest security standards, ensuring that private keys are generated and stored exclusively on the card, remaining inaccessible even to Tangem itself.

The Tangem Wallet boasts several key advantages for investors:

  • Battery-Free & Contactless: It operates with any NFC-enabled smartphone, eliminating the need for cables.
  • Broad Asset Support: Compatible with over 16,000 assets across more than 85 blockchains, including Bitcoin, Ethereum, and Solana.
  • No Seed Phrase Issues: Available in packs of two or three identical cards, providing backup security without the risks associated with seed phrase storage.
  • DeFi Access via WalletConnect: This feature grants access to decentralized applications such as lending protocols and NFT marketplaces.

As a cybersecurity analyst noted, “The biggest risk isn’t always hackers; it’s human error with recovery phrases.” Tangem addresses this vulnerability by providing physical redundancy. The wallet’s credibility is further reinforced by independent audits from Kudelski Security, Riscure, and Applus+, as well as partnerships with major companies like Visa, Samsung, and Stellar.

Other noteworthy hardware wallets include:

  • Ledger Nano X: Known for its Bluetooth connectivity and support for hundreds of tokens, though it requires seed phrase recovery, which some newcomers may find intimidating.

  • Ledger Nano S Plus: A budget-friendly introduction to crypto wallets, although it is limited to desktop use.

  • Trezor Model T: Offers premium security with a touchscreen but comes at a higher cost, making it less appealing to beginners.

  • Trezor Safe 3: Introduced in 2023, it provides robust protection, albeit with traditional seed phrase requirements.

  • SafePal S1: Operates air-gapped for maximum security, yet its setup is more complex than Tangem’s streamlined process.

  • Keystone Pro: Utilizes fingerprint authentication but is bulkier and less portable.

  • CoolWallet Pro: Compact and Bluetooth-enabled, shaped like a bank card, but requires recharging.

  • Ellipal Titan 2.0: Entirely offline, using QR codes for transactions, providing strong security but slowing down frequent transactions.

  • BitBox02: A minimalist option for privacy, but it still relies on seed phrases.

  • SecuX V20: Features a large display for easier navigation but is bulkier for travel.

The urgency for choosing a hardware wallet cannot be overstated, especially given the rise in crypto adoption in the UK, which reached 10% of adults in 2024, up from just 2% in 2021. With corresponding increases in fraud, ensuring secure offline storage is paramount.

The Tangem Wallet effectively mitigates the common weaknesses in crypto security, especially human error related to seed phrases. By distributing identical cards, it reduces the risk of total loss if one card is misplaced. A Bitcoin holder from the UK expressed, “For me, the peace of mind is priceless. I don’t have to worry about hackers or losing a scrap of paper. Tangem just works.”

In light of these insights, for investors in both the US and UK, hardware wallets have transitioned from being optional tools to essential safeguards. The Tangem Wallet, with its formidable blend of security, simplicity, and multi-asset support, stands out as a premier choice in 2025. Interested users can consider acquiring the Tangem Wallet with a 10% discount, ensuring their digital assets remain protected from cyber threats and human errors.

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