Large Korean Insurer Offers Crypto Exchanges Coverage For Hacking Losses

  • Yuri Molchan
    📰 News

    Hanwha Insurance company is about to launch a new service - insurance for compensating local crypto exchanges after they suffer possible hacker attacks


Large Korean Insurer Offers Crypto Exchanges Coverage For Hacking Losses

Hanwha Insurance company is about to launch a new service– insurance for compensating local crypto exchanges after they suffer hacker attacks.

Previously, as local editions notice, trading platforms were protected financially only against the stealing of personal customer data.

The Korean Blockchain Association has been in long negotiations with local insurance companies since spring. Only Bithumb, Upbit and two other big companies have been insured so far but the compensation amounts are not high enough.

 

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About the author

Yuri has worked in crypto since 2017. A translator, quickly became a crypto enthusiast. He has worked for several Telegram channels covering cryptocurrencies. Currently is a news writer, covering crypto and blockchain-related topics.

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