CNA · 2026-10-30 11:51 UTC

Explainer-Binance's $6.3 billion hack: How crypto insurance works

Hackers stole $6.3 billion from Binance in what is described as the world's biggest crypto heist, highlighting how cryptocurrency exchanges use insurance to protect against theft and cyberattacks. Digital asset insurance coverage varies based on how assets are stored, how breaches occur, and specific policy terms; the global crypto insurance market was valued at $9.37 billion in 2025 and is projected to reach $184.98 billion by 2033. Insurance payouts for hacks depend on policy limits and exclusions; common exclusions include value fluctuations, fraudulent acts by the policyholder, and…

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