![\"Insuring](\"https:\/\/jhcolorpowdercoating.com\/wp-content\/uploads\/sites\/672\/2023\/03\/bitcoin-versichern-oder-andere-kryptowahrungen_1.jpg\" "\\"\\"")
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Can you insure bitcoin, or balances in other cryptocurrencies? We now hear this question more frequently at acant.<\/p>\n
Balances in cryptocurrencies are at risk<\/h2>\n
It just happened again: A hacker stole about $600 million worth of cryptocurrencies in the U.S. The company was affected by the transfer or. Poly Network platform specializing in the exchange of cryptocurrencies: The thief had cracked the security systems and hijacked balances of the cryptocurrencies Ethereum, BSC (Binance) and Polygon. He later returned the assets – in return, he was promised a reward of half a million dollars.<\/p>\n
The same thing has happened often enough with Bitcoin. According to media reports, there are entire departments of state-controlled hackers in North Korea who specialize in illegal blockchain operations – i.e. theft. Here's how they help fund the regime.<\/p>\n
Even without thieves, a bitcoin balance can be lost. If the keys are on a hard drive, there is a risk of hardware damage or unintentional overwriting. The case of virtual Bitcoin millionaire Stefan Thomas is particularly spectacular: he owns a hard drive containing Bitcoins worth a nine-figure dollar amount. What he is missing is the hard drive password, because he forgot it. Two more attempts at entry are allowed by the disk's backup software. Then the maximum number of failed attempts is reached, the security program deletes the data on the hard disk.<\/p>\n
Can bitcoin be insured?<\/h2>\n
The short answer is that property insurance for bitcoin, which replaces the loss or theft, does not currently exist. This is already due to the fact that insurers can calculate the risk poorly. Finally, the depends on the exchange rate development. The legal status and official value are unclear, as Bitcoin, Ethereum& Co. Are not official means of payment and, unlike foreign exchange balances or securities, are not subject to accounting rules. From a property insurer's perspective, bitcoin assets appear in the inventory to be insured, d. h. the assets of the company, not as a specific value on.<\/p>\n
What's more, in the event of a mass theft like Poly Network's, very large insurance claims are at risk in one fell swoop. Such risks also make property insurers cringe.<\/p>\n
The bottom line is that while there have been previous announcements of bitcoin insurance products. Corresponding offers did not appear on the market.<\/p>\n
Fidelity insurance or cyber insurance can help with clarification<\/h2>\n
The prospects for coverage of the loss are better in the case of suspicion that the company's own employees or agents have stolen or embezzled bitcoin assets. If the company has fidelity insurance or cyber insurance, the insurer can cover the cost of forensic investigation. Experts in IT forensics can point the way to the perpetrators, from whom you can recover the funds with a little luck. Of course, the claim depends on the terms and conditions of the policy.<\/p>\n
Do you have questions about the insurance coverage of your digital assets?<\/h2>\n
When it comes to insurance for digital assets and insurance protection against digital risks, we at acant know our stuff. We are, after all, specialist brokers for cyber risks of all kinds.<\/p>\n
Just ask us – we will be happy to advise you free of charge. And if something cannot be insured, such as Bitcoin, then we tell you that quite clearly.<\/p>\n","protected":false},"excerpt":{"rendered":"
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