Report Says Binance Lacked Cybersecurity Insurance; Theft of Approximately 6300000000 USD May Not Be Covered by a Substantial Insurance Payout
According to Bloomberg Law, citing people familiar with the matter,Binance may struggle to secure a substantial insurance payout after the theft of approximately 6300000000 USD in crypto assets because it lacked cybersecurity insurance. Its D&O insurance may cover only related regulatory investigations or lawsuits.