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Ledger Executive: Bull Cycle May Lead to Lax Security Awareness, Self-Hosting Important

Ledger Executive: Bull Cycle May Lead to Lax Security Awareness, Self-Hosting Important

Bitget2024/09/20 13:15

In an interview at the Token2049 conference in Singapore, Ian Rogers, Chief Experience Officer at hardware wallet maker Ledger, emphasized the importance of maintaining a sense of security during bullish cycles, stating, “Every bullish cycle, there are always people who find some seemingly valid reason to compromise on security or self-hosting. “In particular, he noted that during periods of rapid market expansion, many cryptocurrency holders preferred to store their assets on centralized exchanges rather than self-custody. In response, Rogers emphasized, “What is the point of choosing cryptocurrencies if they are not self-custodied?” He warned investors against over-reliance on centralized exchanges, especially during market downturns, citing the defunct cryptocurrency exchange FTX as an example. “All they did was give funds to someone in the Bahamas and add a column of data on a spreadsheet. That's not called cryptocurrency, that's called fraud.” Beyond the cryptocurrency space, Rogers also points to an upward trend in global cybercrime. He predicted, “Every year from now on, you can say this is the worst year for cybercrime and that statement will be accurate.” To combat this growing threat, Rogers recommends secure self-hosting of digital assets through hardware solutions and clear signature technology to ensure users are fully aware of what they are authorizing to transact.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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