Ledger CEO Pascal Gauthier has sparked debate after saying every company will eventually face a hack, including those offering offline crypto storage. Speaking during a Bloomberg Crypto interview, Gauthier argued that perfect security does not exist as artificial intelligence and quantum computing reshape the threat landscape.

His remarks came amid billions of dollars in annual cryptocurrency thefts and renewed scrutiny of Ledger following losses linked to compromised hardware wallets sold through a reseller. The response quickly extended beyond security into questions about privacy and accountability.

Ledger CEO Says Perfect Security Does Not Exist

Pascal Gauthier's statement that everybody will be hacked at some point attracted immediate attention from cryptocurrency users. The Ledger chief executive acknowledged that even offline hardware wallets cannot guarantee complete protection against every possible attack.

He pointed to artificial intelligence and quantum computing as emerging challenges that could make future security threats more difficult to manage. His comments also came against a backdrop of cryptocurrency theft running into billions of dollars annually, reinforcing his argument that companies cannot promise absolute protection.

Gauthier Defends Ledger With the $90 Million Loss Figure

Addressing approximately $90 million associated with compromised Ledger devices distributed through a reseller, Gauthier argued that the figure represented around 0.01% of the value Ledger protects.

He used that comparison to defend the relative security of hardware wallets against centralized exchanges and other centralized platforms. According to Gauthier, losses across the hardware wallet industry remain considerably smaller when measured against the value protected, supporting his argument that decentralized security offers advantages over centralized custody.

The comparison, however, did little to settle criticism from users who believed the discussion should focus more directly on affected customers rather than the percentage of assets remaining secure.

Bloomberg’s headline is blunt, so here’s the context.

For over a decade, Ledger has had one mission: protecting what people own. That hasn’t changed, and neither has our job. People are quite terrified by what is happening, and we feel it personally every day.

AI is accelerating the speed and sophistication of attacks on individuals and institutions. From AI-generated phishing and deepfakes to autonomous agents acting without verified human oversight, attackers now operate at machine speed. Today, you can’t be sure that what you’re looking at on your phone is true. Cybersecurity has never faced so many new challenges so quickly, with frontier AI models and the looming threat of quantum. The devices we use every day were not built for this. We need something purpose-built.

Attackers will keep coming. What matters is what we build to meet them.

Device tampering risks affect the whole industry. This is an ongoing threat that reaches well beyond one company, and no one solves it alone. We’re calling on others in the space to work with us on shared standards for how devices are built, shipped and verified, so users can trust what they hold.

AI can defend too. At the Ledger Donjon, Cerberus works like an AI-powered guard dog, scanning around the clock to catch and patch vulnerabilities before attackers do.

Hardware is the great protector: a root of trust you can verify from the factory to your hands, and a human who approves what moves. Security has to run all the way to the screen, because an approval only means something if what you see is what happens. That is why we built Ledger Atom with a secure screen. The revenge of the atom has come.

We will keep leading on security, and we will keep communicating only facts we can validate through authorized channels.

https://t.co/H65FPezpue

— Pascal Gauthier @Ledger (@_pgauthier) November 10, 2026

Crypto Users Criticize Ledger CEO Over Security Remarks

Reactions on X highlighted frustration with Gauthier's messaging. Critics questioned why the head of a company selling hardware wallets would describe hacking as inevitable, arguing that customers purchase Ledger devices precisely to protect their cryptocurrency.

For some users, the remarks sounded dismissive of people who had already experienced losses. The criticism also reflected wider concerns about confidence in hardware wallets following incidents involving compromised devices.

The debate placed Ledger's public messaging under pressure, with users expecting stronger reassurance and accountability instead of comparisons with larger losses elsewhere in the cryptocurrency industry.

Ledger Signing Kit Privacy Concerns Add to Backlash

Separate criticism emerged over Ledger's signing kit, with developers highlighting transaction metadata reporting enabled by default in its software development kit. The information reportedly includes the blockchain network, destination address, device details, firmware and application versions, alongside whether blind signing was used.

Ledger's security researchers explained that the reporting supports Clear Signing, which relies on server hosted transaction information to display readable signing details. They said Ledger does not retain the reported data and that wallet developers can replace the module.

The disclosure nevertheless raised privacy concerns among users and developers who questioned why transaction related information should be transmitted by default. Critics argued that privacy should be the default setting rather than something wallet developers must actively implement.

Gauthier subsequently emphasized Ledger's responsibility to protect digital assets and called for stronger industry standards, positioning security as a shared responsibility across cryptocurrency companies.

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