Blockchain investigator ZachXBT called hardware wallets 'complete garbage' this week, a sharp critique of a product category long considered the gold standard for crypto security. The comment came as Bitcoin traded steady near $65,000, a price level that held after South Korea's recent rate hike.
The hardware wallet critique
ZachXBT, a well-known on-chain sleuth who has exposed numerous scams and hacks, didn't mince words. In a post that quickly circulated across crypto social media, he described hardware wallets as 'complete garbage.' The statement stands out because hardware wallets — devices like Ledger and Trezor — are typically recommended for cold storage and are often seen as the safest way to hold crypto long-term. ZachXBT's view suggests a different assessment, though he didn't elaborate publicly on what he sees as their flaws.
Bitcoin steady after rate hike
Bitcoin's price held near $65,000 during the same period. The stability followed the Bank of Korea's decision to raise interest rates. South Korea is a major hub for crypto trading, and its monetary policy moves often influence market sentiment. The rate hike didn't trigger a sell-off, at least not yet. BTC remained in a tight range around the $65,000 mark.
The timing of ZachXBT's remark and the price action is coincidental, but it highlights two different conversations happening in crypto right now: one about security practices, another about macroeconomic pressures. For now, Bitcoin holds $65,000, and the hardware wallet debate continues.
