**Crypto Bull Cycles: Boom, Bust, and Beware! ๐Ÿš€**

- **Bull Cycles & Security Risks:** The crypto market loves a good bull run, but Ian Rogers from Ledger warns that these booms often lead to lax security practices. "Every bull cycle, people find seemingly rational reasons to compromise on security," he says.

- **Centralized Exchanges:** Many crypto holders prefer centralized exchanges over self-custody, a risky move according to Rogers. He cites the FTX collapse as a cautionary tale: "Giving money to someone in the Bahamas? That's not crypto; that's fraud."

- **Cybercrime Surge:** Rogers predicts cybercrime will get worse every year, urging secure self-custody through hardware solutions.

- **Ledger's Commitment:** After a $600K exploit, Ledger promises to reimburse affected users by February 2024.