According to Pascal Gauthier, CEO of Ledger, a cryptocurrency hardware wallet company, the recent hack of the most important digital currency exchange, Binance, has led to an increase in sales of his company's products. It can be inferred that this increase in sales is due to investors' fear for the safety of their funds. The CEO reported on the phenomenon at a recent Atomic Swap conference in New York. While discussing the future of money and the importance of security in the cryptocurrency space, he admitted that he has seen an increase in sales of his products. Gauthier said specifically: "Binance was hacked, and the day Binance was hacked, our sales doubled." Attack on Binance Binance, which was recently hacked, lost about $40 million in BTC (over 7,000 BTC was stolen). The reasons? Hackers reportedly exploited the exchange's API, 2FA, and withdrawal validation areas. The platform has since made "significant changes" to these areas. While this showed the weakness of the cryptocurrency market, Gauthier on the aforementioned panel added that Ledger believes cryptocurrencies are a "great technology." However, like any technological innovation, they have weaknesses, in this case concerning the security of "private keys". He also mentioned that the hacking of Binance is a sign that the industry is still in its early stages. He added that he is confident that the security of the market will eventually improve significantly, while he himself is "very excited about building a security layer for the industry." Ledger Cryptocurrency hardware wallet maker Ledger received $2.9 million from Samsung earlier this year for further development. The company keeps stressing that it is a big challenge for it to deliver such devices to the market. It has also recently started shipping its latest products, the Nano X, to customers. The hardware, which was previously scheduled for release in March, is coming to the market late due to technological issues. Ledger Nano X is a hardware wallet with Bluetooth support, display and more secure protocol. Are you interested in purchasing the Ledger Nano X secure hardware wallet? You can do so at the manufacturer's official store, at: https://shop.ledger.com/products/ledger-nano-x?r=24d5cb56c791 Binance quickly recovered from the earlier attack. It also returned lost funds to customers, but on Tuesday urged users to read and follow a list of 14 security measures to protect coins on the exchange. Tags Binance cryptocurrency exchanges Ledger bitcoin wallet
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