Hanwha Insurance is to begin offering insurance covering hacking incidents of cryptocurrency exchanges. This follows hackings of four major exchanges, leading to over US$700 million in assets being stolen.
Currently, the only types of cyber insurance available to crypto exchanges compensates only the leakage of personal information, reported The News Asia. The new product will also cover damages caused by theft of digital assets. The premium rate will be based on the exchange’s risk level, which will be determined by the insurer, a reinsurer, and the crypto exchange.
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