cryptocurrency insurance News

Cryptoasset Insurer Evertas Receives License to Operate in Bermuda

Cryptoasset insurer Evertas has received a license from the Bermuda Monetary Authority to start operating from the jurisdiction. Evertas’ operations in Bermuda will now aim to start issuing policies for theft or loss of cryptoassets, with a view to securing …

New Insurer Relm Offers Cover for Cryptocurrency, Cannabis Businesses

Relm, a Bermuda-based insurer that specializes in emerging business categories, has opened its doors for business. The new business, which is led by CEO Joe Ziolkowski and Operations Vice President Keyla Roman, is owned by Deltec International Group, a Bahamas-headquartered …

Lloyd’s Launches Cryptocurrency Wallet Insurance Policy

Lloyd’s has launched a insurance policy to protect cryptocurrency held in online wallets against theft or other malicious hacks. The first of its kind liability policy, with flexible limits from as little as £1,000 (US$1,281), was created by Lloyd’s syndicate …

Gemini, Seeing Insurance As Key to Future of Virtual Currency, Starts Own Captive

U.S. virtual currency firm Gemini Trust Company announced on Thursday that it has launched its own insurance unit to boost coverage against theft of crypto assets. Gemini’s new in-house insurer, Bermuda-based Nakamoto Ltd, provides a total of $200 million in …

Cryptocurrency Fraud Losses Surge to $4.4 Billion: CipherTrace Report

Cryptocurrency theft has surged in 2019 compared with last year, with more money flowing through digital exchanges and criminals looking to carry out bigger heists, according to a report from blockchain forensics company CipherTrace obtained by Reuters. Losses from digital …

Arch Insurance (UK) and Marsh Launch ‘Blue Vault,’ Insurance Cover for Digital Assets

Arch Insurance (UK) Ltd., in collaboration with Marsh, the insurance broker and risk adviser, announced the launch of Blue Vault, a new solution to provide insurance protection for the secure storage of digital asset private keys held in traditional vault …

UK Markets Regulator Warns of Dangers of Unregulated Cryptocurrencies

Britain’s markets watchdog said on Wednesday that bitcoin and other cryptocurrencies have no intrinsic value and offer consumers few protections, but added that such coins fall outside the scope of its powers. The Financial Conduct Authority said crypto markets were …

Munich Re to Offer Coverage for Curv Digital Assets, Cryptocurrency

Curv, a cloud-based institutional digital asset wallet service, has partnered with Munich Re to provide insurance protection of up to $50 million for digital assets offered through its service. Munich Re will offer an opt-in solution to Curv’s customers that …

Hackers Steal 7,000 Bitcoins Worth $40M from Cryptocurrency Exchange Binance

Binance, one of the world’s largest cryptocurrency exchanges, said hackers withdrew 7,000 Bitcoins worth about $40 million via a single transaction in a “large scale security breach,” the latest in a long line of thefts in the digital currency space. …

Losses from Cryptocurrency Thefts, Fraud Surged to $1.2 Billion in Q1: Report

Losses from the theft of cryptocurrencies from exchanges and fraud-related activities surged in the first quarter of the year to $1.2 billion, or 70 percent of the level for all of 2018, cyber-security firm CipherTrace said on Tuesday. The value …