The London based insurance giant, Lloyd's has recently published a report on the risk factor associated with Bitcoin and other digital currencies. The report titled “Bitcoin – Risk factors for insurance” provides a detailed description of different kinds of threats faced by Bitcoin. According to the company, the security risk associated with Bitcoin will never be reduced to zero. The Lloyd'...
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Chinese altcoin exchange BTER was the subject of a monster-sized hack last February that saw to nearly $2 million in bitcoins being stolen from the company’s cold wallet reserves. It was the second largest cyberattack of the year, and many felt sympathy towards the exchange; after all, it was one in a long line of recently victimized exchanges and businesses between MyCoin, Excoin and several ...
San Francisco-based Coinbase has published an interesting blog post on Wednesday, which essentially serves a means of comforting its users. In short: the company announced that it holds insurance against both theft and loss of the bitcoin they hold -- much of which belongs to its over one million users. Interestingly enough, however, they say that they have been insured since November of 2013,...
Barry Silbert, founder CEO of SecondMarket and the Bitcoin Investment Trust, posted an interesting tweet Friday morning indicating that insurance companies may be looking for a piece of the bitcoin pie: Interesting. We're starting to get approached by large, well-known insurance [companies] looking to offer insurance products on bitcoin exposure As the bitcoin realms continues its growth, major ...