Every cloud has a silver lining, and if you were a part of the Ledger team, the silver lining over the last few days has been bright. Ledger are a manufacturer of hardware wallets, which can be used to securely store cryptocurrencies offline. Nano S (their most popular product) sales have reported a 100% increase after the news of Binance’s hack last week.
Investors are often reminded of the risks they leave themselves exposed to by leaving any of their coins on an exchange. However, many are often simply too lazy to transfer them onto an offline wallet. It’s common for complacency to kick in and not make a regular habit of moving their holdings off the exchange.
CEO of Ledger stated at a recent conference that “Binance got hacked, and the day Binance got hacked, our sales doubled.” Outlining that it often takes significant events for people to be given a wake-up call. With Binance’s funds all being covered, investors would not have lost any capital, however, it is evident that many of them were given a strong reminder that they didn’t want to take any further risks in the future.
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