A surge in cryptocurrency hacks this year has led to an unprecedented increase in demand for security devices. Ledger, a company specializing in hardware wallets that securely store cryptocurrencies, has reported record revenues, reaching triple digits in millions for 2025. Pascal Gauthier, Ledger’s CEO, highlighted the alarming trend of increasing cyberattacks, noting, “We’re being hacked more and more every day… hacking of your bank accounts, of your crypto, and it’s not going to get better next year and the year after that.”
According to a mid-year report from blockchain data provider Chainalysis, approximately $2.2 billion in cryptocurrency was stolen in the first half of 2025, a figure that already exceeds total thefts from 2024. This spike in theft includes nearly 25% of the incidents targeting individuals’ wallets, representing a significant shift in hacking tactics as attackers increasingly focus on less secure personal accounts rather than major service providers. This shift has been attributed to various factors, including enhanced security measures on well-known platforms, a growing number of people investing in crypto, and rising cryptocurrency prices throughout the year.
One telling incident included a record theft by North Korean hackers, who reportedly stole $1.5 billion in tokens from the exchange Bybit in February, marking the largest cryptocurrency theft to date. Ari Redbord, who serves as the global head of policy at TRM Labs, noted the correlation between lawful and unlawful activities in the crypto space, stating, “As we’ve seen a record-setting year in lawful crypto activity, we’ve also seen a record-setting year in unlawful crypto activity.”
Gauthier reported that the current surge in demand for Ledger’s security devices is also being influenced by the upcoming Black Friday and holiday shopping season. Ledger’s product line features cold storage wallets, which provide a safer alternative for crypto holders by keeping their assets away from online exchanges. He emphasized the inadequacies of traditional devices like smartphones and computers for security purposes, stating that they are primarily designed for communication and entertainment rather than protection from cyber threats.
This increasing awareness of the risks posed by hackers is leading consumers to upgrade their security measures. Cybersecurity experts have also stressed the necessity for robust security protocols in the digital asset space. A report earlier this year from PYMNTS advised organizations venturing into cryptocurrencies to abandon a “wait-and-see” approach. Instead, it advocated for the adoption of rigorous security practices such as multi-signature wallets, cold storage solutions, and real-time transaction monitoring as essential components of a secure strategy.
