Renowned on-chain detective ZachXBT unexpectedly criticized the entire hardware wallet industry, calling them an unsafe solution for storing large sums and signing critical transactions. Instead of traditional "cold" devices, he recommends using a separate iPhone configured exclusively for managing cryptocurrencies.
Particularly harsh criticism was directed at Ledger — according to ZachXBT, it is the worst choice among major manufacturers. The problem lies in frequent updates to Ledger Live software, which allegedly disrupt the device's basic functionality. Users encounter issues where, after another update, the wallet may fail to correctly sign transactions or synchronize with the network.
This statement casts a shadow over the entire concept of hardware wallets, which have long been considered the gold standard of security in the crypto community. ZachXBT essentially claims that any software glitch or firmware update could jeopardize access to funds. As an alternative, he suggests an isolated iPhone without a SIM card or third-party apps, which, in his opinion, provides a higher level of protection against attacks.
It is worth noting that such statements contradict common practice, where hardware wallets are considered safer than hot wallets on smartphones. However, ZachXBT insists that modern mobile devices with a closed ecosystem and regular security patches from Apple can be more reliable than specialized equipment with software vulnerabilities.
Expert opinion: While the idea of using a separate iPhone for cryptocurrencies sounds logical in terms of risk isolation, it is inaccessible to the average user due to high cost. Ledger indeed suffers from update issues, but this does not automatically make it the worst choice — many alternatives, such as Trezor or Coldcard, have their own drawbacks. The market clearly needs more transparent security standards for hardware wallets.