Investors are rushing to buy hardware wallets as crypto hacks hit record highs in 2025 — and the numbers show just how serious things have gotten.
According to a new Financial Times report, Ledger, the company behind those small USB-style devices that let people store crypto safely offline, is having its best year ever — with revenues in the hundreds of millions.
And it’s easy to see why.
💰 Crypto thefts have exploded.
In just the first half of 2025, over $2.2 billion worth of crypto was stolen — more than in the entire year of 2024. That’s a shocking jump and a huge wake-up call for anyone keeping their digital assets on exchanges.
Because of that, investors are turning to cold storage — hardware wallets from companies like Ledger, Trezor, and Tangem — as a safer way to keep control of their coins and avoid being wiped out by the next big hack.
Crypto hacks are getting personal
It’s not just big exchanges under attack anymore. Hackers are going after individual wallets at record levels.
Data firm Chainalysis found that about 23% of crypto hacks in 2025 targeted individual users, not institutions. That’s a big shift — and it’s happening as crypto prices climb to new highs, putting everyday investors in the crosshairs.
Even government-backed hackers are getting in on it. North Korean hackers stole $1.5 billion from the crypto exchange Bybit in February — the biggest crypto heist ever recorded.
Ari Redbord, global head of policy at TRM Labs, summed it up perfectly:
“As we’ve seen a record-setting year in lawful crypto activity, we’ve also seen a record-setting year in unlawful crypto activity.”
Ledger: booming business in a risky world
Ledger’s CEO, Pascal Gauthier, says things aren’t getting any safer.
“We’re being hacked more and more every day — bank accounts, crypto accounts — and it’s not going to get better next year or the year after that.”
Ledger was valued at $1.5 billion back in 2023 after attracting major investors like 10T Holdings and True Global Ventures. But with crypto thefts soaring, demand for its products is surging even more now.
Basically, the worse the hacking problem gets, the better Ledger’s business does — because people are realizing that owning your keys is the only way to truly own your crypto.
When digital threats turn physical
Here’s the scary part: it’s not just hackers behind screens anymore. Rising crypto prices have brought back an even darker side — physical attacks.
There have been more reports of kidnappings and robberies targeting crypto holders. Criminals are going after people they believe have large crypto holdings, trying to force them to transfer their coins at gunpoint.
Even Ledger’s co-founder and his wife were kidnapped in France earlier this year — a chilling reminder that as crypto grows, the risks do too.
Chainalysis warned that as prices rise, we’ll likely see more “opportunistic physical attacks” against people known to have crypto.
The takeaway
Crypto might be digital, but the risks are very real — both online and offline. With billions stolen and even physical crimes increasing, it’s no wonder investors are moving to hardware wallets for safety.
Ledger, Trezor, and Tangem aren’t just selling gadgets — they’re selling peace of mind in a world where even your digital wealth can make you a target.
In short: not your keys, not your coins has never been more true.
