Binance's $6.3bn hack: How crypto insurance works

Hackers stole $6.3 billion from Binance in the world’s biggest crypto heist , putting a spotlight on how cryptocurrency exchanges insure their digital assets against theft and cyberattacks. But insurance protection is far from uniform. Coverage depends on how assets are stored, how hackers gain access and the specific terms of the policy. Limited regulation and volatile crypto prices have long made insurers wary of the sector, despite growing demand for protection against digital asset theft and claims against company executives. While both crime and demand for protection have tracked…