Ledger’s Ian Rogers Criticises Crypto Exchanges For ‘Irresponsible’ Security, Dismisses Crypto’s Quantum Risk

ccn.comPublished on 2025-12-14Last updated on 2025-12-14

Abstract

Ledger's Chief Experience Officer Ian Rogers has criticized crypto exchanges for "irresponsible" security practices, stating that software wallets and mobile-first designs create a false sense of user security. He argued exchanges should guide users toward hardware-backed security like passkeys integrated with Ledger devices, rather than relying on biometric locks which he deemed insufficient for protecting significant value. Rogers dismissed near-term concerns about quantum computing threats to crypto, citing confidence in Ledger's internal cryptography experts, particularly CTO Charles Guillemet. He revealed Ledger is already developing quantum-resistant solutions to deploy well before they become necessary. He emphasized that security involves risk management rather than perfection, noting Ledger's "secure by design" approach sometimes slows product development but minimizes potential damage from attacks. Rogers also highlighted adoption barriers, noting smartphones are designed for sharing information rather than protecting value, and warned that anyone requesting seed phrases is "a thief." His product philosophy focuses on building cohesive security experiences rather than standalone hardware.

Ian Rogers, Ledger’s chief experience officer, has criticized what he called “irresponsible” security practices in the crypto industry, saying that software wallets and mobile-first designs give users a false sense of security.

Sitting down with CCN at Solana Breakpoint on Thursday, Rogers also downplayed near-term concerns about quantum computing, saying Ledger’s internal leadership is guiding his view.

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Exchanges Can Do More

Rogers criticized parts of the crypto ecosystem for not pushing stronger security defaults.

He said exchanges “have a responsibility to tell their customers how to be safer,” and argued they should guide users toward hardware-backed security controls, including passkeys.

“Your pass key... could be your ledger,” he said, suggesting there could be settings that explicitly prioritise Ledger-based security.

He also said software wallets should not imply that biometric locks are enough.

“It’s irresponsible,” he said, to suggest “a thumbprint is safe to protect value.”

No Security Is Perfect

Rogers framed Ledger’s approach as risk management under worst-case assumptions, not absolute protection.

“No, security is perfect, right?” he said, adding that the work of security teams is to “imagine the worst possible scenario” and “minimize that blast radius.”

He described Ledger’s objective as being “secure by design,” meaning product decisions are structured to reduce exposure if an attack occurs.

He also argued that this security posture creates trade-offs in product development speed.

“Sometimes it takes us longer to build something than someone else, because when you’re worried about security and self custody, often it takes longer to build,” he said.

Dismissing Quantum Concerns

On quantum computing as a threat to crypto security, Rogers was blunt.

“No,” he said when asked if he was afraid.

He explained his confidence as deference to Ledger’s cryptography leadership.

“Because I’m the expert, no, but because I work with experts,” he said.

Rogers pointed to Ledger CTO Charles Guillemet by name, saying Guillemet “has been very vocal on this subject” and that “Charles is not the slightest bit worried, and until Charles is worried, I’m not worried.”

Rogers added that Ledger is already preparing.

“We’re already... working on solutions, and we will have those solutions deployed long before it’s necessary,” he said.

Barriers to Adoption

Rogers argued that mainstream users default to the smartphone App Store mental model, which he sees as a barrier to hardware wallet adoption.

“Your phone was built to share information. It was not built to protect value, right?” he said.

In his framing, the industry has not done enough to clearly communicate that distinction, leaving many users underprotected as crypto usage expands.

Rogers acknowledged that even strong device security cannot fully protect users from manipulation.

He described seed phrases as “a big mental leap” for many people, which scammers exploit.

His warning was unambiguous.

“Anyone who is asking for your 24 words is a thief, straight up,” he said.

Lessons from Apple

Rogers said his product philosophy, shaped by prior roles, centres on building a cohesive experience rather than selling a standalone device.

“You’re not building a piece of hardware, you’re really building an experience,” he said.

Rogers said Ledger’s public product moments, including “Ledger Open,” draw on the “own show” approach he associated with Apple.

“If it’s not big enough to be on stage, why are you doing it? You know it also acts as a nice filter,” he explained.

“So I think these are good lessons that pretty much anybody can take into their businesses.”

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