Recently, hacking of crypto exchanges has become more and more rampant, not only by individuals or just a group of people, but also by a country (such as North Korea). so the UN gave a warning to the South Korean government. The main target of hackers is the large amount of balance held by whales, among the whales that are most vulnerable to hacking are crypto exchanges, because around 30%-60% of their crypto funds are stored in cloud storage which is always used for daily transaction activities. Although crypto exchanges increase network security in layers to make hacking more difficult, it seems that hackers are also getting more sophisticated, so the possibility of network security can still be hacked. Therefore to allay the worries, security of users' balances, most crypto exchanges have purchased insurance policies, even though crypto insurance companies are still new but are trusted by crypto exchanges. Some insurances for crypto exchanges that I know of are: Onedegree (Hong Kong), Coincover, Lloyd's of London, Aon, and Bitgo Custodian etc.
We also need to know about crypto insurance, if only your account is hacked on a crypto exchange or on a wallet, and the hacker takes all your balance then it is not included in the insurance agreement. guaranteed only global amount or only crypto exchange hacking.
We also need to know about crypto insurance, if only your account is hacked on a crypto exchange or on a wallet, and the hacker takes all your balance then it is not included in the insurance agreement. guaranteed only global amount or only crypto exchange hacking.