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Cryptoasset Insurance Company, Evertas says there is a serious problem of ‘phantom’ knowledge of digital assets from insurers. New research conducted by Evertas
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South Korean telecommunications firm, SK Telecom, announced a blockchain-based document submission process for mobile phone insurance. This new protocol will do away with the company’s current antiquated paper processing methods.Before now, users had to visit a technical repair office to receive insurance benefits for damaged phones, according to Itbiznews. Successful
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The crypto futures market is heating up. On June 30, Binance launched Compound perpetual contracts at 50x leverage, around the same time Beijing-based MCDEX debuted a novel decentralized ETH perpetual contract that has no expiry date. CoinFLEX, meanwhile, has unveiled a centrally traded repo market powered by deliverable perpetual futures and Bybit
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Distributed ledger technology (DLT) firm Algorand has partnered with blockchain-based tamper-proof media verification platform Attestiv to target fraud within the insurance industry.The firms will combine their tech to develop a single platform for verifying digital media for a multitude of stakeholders across the insurance sector — including insurers, customers, repair
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Top cryptocurrency payments firm Crypto.com gets about $350 million in insurance coverage. It may improve confidence in the crypto space and become a step toward cryptocurrency adoption.Premier cryptocurrency platform Crypto.com has gotten insurance coverage worth $360 million. This coverage is for risks associated with its cold storage Bitcoin vaults. Sources
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Crypto.com has gathered a record-breaking $360 million worth of insurance to cover the potential loss of coins stored in special offline vaults.Announced Monday, the crypto finance platform accessed the cover through institutional custody provider Ledger Vault, which offers $150 million of pooled insurance cover to clients via insurance broker Marsh,
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Polish insurance company Link4 has partnered with a regtech firm Coinfirm to streamline document correspondence and storage with a blockchain-based system.Called Trudatum, the blockchain-enabled tool developed by Coinfirm reportedly allows the firm to transfer and store electronic documents and ensure their immutability. For Link4’s customers specifically, it means that their
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Black hat hacker group, Maze, claims to have used ransomware to compromise the systems of insurance giant, Chubb. They also claim to have stolen the firm’s data.Brett Callow, threat analyst at cybersecurity firm, Emsisoft, told CryptoX on March 27 that Maze published the claim on its website. While the
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The March 13 crypto market meltdown ravaged cryptocurrency companies across the industry, sparking a MakerDAO debt crisis and causing millions to be deployed from the insurance funds of exchanges Binance and Deribit.In spite of the widespread carnage, the insurance fund of leading derivatives exchange, BitMex, only took two days
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Insurance works in crypto so far, though it hasn't had many big tests yet.Not many people had insurance on assets locked up in bZx’s Fulcrum, but after a bug yielded an exploit of its smart contract, a couple of accounts that did were covered by Nexus Mutual, the London-based crypto
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