What is Crypto Insurance
— Software solution, Consider various insurance policies, Crypto holders, Regional communications, Fully covered, Also subject, Victims, Failure, Dishonest acts, Digital assets held across — 1 min read
Cryptocurrency-based crime hit a new all-time high in 2021, with illicit addresses receiving $14 billion during the course of the year, up from $7.8 billion in 2020. Insurance policies generally don't cover losses from fluctuations in the crypto market or if an investor gets involved in a get-rich-quick scenario that turns out to be a Ponzi scheme, in which all or some of the investment is lost. Some insurers cover only crypto exchanges, because that's where the large balances of crypto funds reside. In the event of crypto exchange bankruptcy, customers with custodially held assets are last in line to receive any payments. To protect your funds, consider non-custodial wallet in which you own the private keys Source