NEW STRAITS TIMES · 2026-11-08 15:05 UTC

Binance's US$6.3b heist set to trigger tougher insurer scrutiny

Insurers are expected to scrutinise crypto companies' security more closely after the US$6.3 billion Binance heist, probing whether clients face a similar attack when seeking or renewing coverage. Insurers are not expected to broadly retreat from the crypto sector or cut the availability of coverage. No available crypto insurance could cover a loss of Binance's scale, and many policies exclude state-backed cyberattacks, which the FBI has linked to a North Korea-linked group.

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