Share this article
Bitstamp Adds Crypto Crime Insurance for Assets Held Online
The new policy means user funds are protected both on- and offline.
Updated Apr 10, 2024, 3:02 a.m. Published Oct 19, 2020, 9:10 a.m.
Bitstamp, one of the world's largest cryptocurrency exchanges, has introduced an insurance policy that covers the theft and other losses of user funds held on its platform.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The Europe-based exchange said the new insurance policy will be provided by Paragon International Insurance Brokers in coordination with Woodruff-Sawyer, per a Thursday blog post.
- The underwriters will consist of various insurance companies and certain syndicates from one of the world's oldest insurance markets, Lloyd's of London.
- The policy applies to digital assets, such as bitcoin, that are held at the exchange both on and offline, and covers a number of crime-related circumstances, per the post.
- These include employee theft, loss while the assets are stored at any premise, loss in transit, loss caused by computer fraud or funds transfer fraud, and losses related to legal fees and expenses.
- Bitstamp said 98% of all its digital assets are stored offline, which are already protected by cover from cryptocurrency custodian BitGo.
See also: Crypto Long & Short: The OKEx Drama Exposes a Weakness in Crypto Market Infrastructure
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
BlackRock expands crypto bet with 7 senior hires across U.S. and Asia
The $10 trillion asset manager is staffing up to scale digital asset ETFs, pursue tokenization and identify "first-mover big bets" in Asia.
What to know:
- BlackRock is hiring seven senior digital asset roles, including one in Singapore, to expand its crypto and blockchain strategy.
- One U.S.-based role will help grow the iShares digital asset ETF lineup, including the $70 billion iShares Bitcoin Trust (IBIT), and develop new crypto-linked products.
- The Singapore role will lead BlackRock’s digital asset push across Asia, with a focus on long-term strategy and identifying first-mover opportunities.
Top Stories
