Cryptocurrency Cyber Insurance Made Simple
Interest in cyber insurance for cryptocurrencies has gained momentum in recent years. This is not surprising: investments have been pouring into cryptocurrency and high-profile cyberattacks on crypto exchanges have grown in frequency. Although Bitcoin value has dipped since the start of 2022 and has yet to fully recover, the increased focus from legislators and regulators on this market indicates that crypto is here to stay.
A young and evolving sector, the lack of actuarial data supporting the cryptocurrency market makes it difficult to accurately predict the risks it carries. This is especially true of the ever-changing cyber risk within the crypto field, which poses a real threat to those investing and operating in crypto markets. With a growing appetite for crypto assets, demand for adequate protection for this investment has soared. And yet the need for crypto insurance coverage far outweighs capacity in the market.
You can find a complete glossary of all cryptocurrency terms discussed at the bottom of this article.
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