Crypto Traders Flocking to Hardware Wallets in the Wake of Industry Hacks | Crypto

Crypto Traders Flocking to Hardware Wallets in the Wake of Industry Hacks

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– After recent hacks and bankruptcies in the digital-asset industry, sales of hardware wallets have spiked as people rush to protect their crypto assets.

– French startup Ledger saw its day-over-day sales balloon 400% in the 24 hours after a $5.2 million hack involving digital wallets based on the Solana blockchain earlier this month.

– Ellipal, a Hong Kong-based company, saw wallet sales rise 30% and website traffic jump 50% in the days following the Solana wallet hack.

– Sales of KeepKeys hardware wallet also jumped around 30% in the week following that attack.

– Ledgers Chief Experience Officer Ian Rogers said in an interview that the recent market turbulence has created “elevated awareness for consumers to protect their digital assets.”

– Adam Lowe, chief product and innovation officer of CompoSecure Inc., said in a statement that the firm saw an uptick in demand for its hardware wallet between the first and second quarter despite the onset of crypto winter.

– KeepKeys pastaghost said that the collapse of lending platforms such as Voyager Digital Ltd. and Celsius Network Ltd., which included freezing withdrawals for customers, has spooked users and helped spur interest in hardware wallets.

– Steve Walbroehl, co-founder and chief information security officer at Halborn, a blockchain security firm, said that using a physical wallet adds another layer of defense against attacks that digital wallets may be susceptible to.

 

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