Crypto Firm to Secure Insurance Thru Lloyd's of London

Lloyd's of London is one of the world's oldest insurence institutions
29 August 2018   714

The cryptocurrency assets management company Kingdom Trust has insured its reserves against theft or loss as a result of natural disasters. The insurer is one of the most famous and oldest insurance institutions in the world Lloyd's of London, Reuters report.

From the very beginning we saw insurance as a key factor to bring institutional investors into the marketplace.
 

Matt Jennings

CEO, Kingdom Trust

The company offers custody services for more than 30 crypto-currencies, including Bitcoin, Ethereum, Litecoin, Ripple and ZCash. The total amount of assets under the control of the Kingdom Trust exceeds $ 12 billion.

In addition, customers have a safe cold storage for crypto assets.

The insurance market of Lloyd's of London has been operating since 1686 and is the largest player in this segment of the market. From the comments on the Kingdom Trust insurance, the representatives of the British company abstained.

Cryptopia to Resume Trading Temporary

Trading lasted few hours and has been stopped, and the company itself has not made any announcements on this matter
18 March 2019   21

Hacked cryptocurrency exchange Cryptopia temporarily resumed trading on this Monday, according to information from the order book on its website. To date, trading has been stopped, and the company itself has not made any announcements on this matter. The total volume of transactions on the exchange, which ceased trading services about two months ago, in the last 24 hours amounted to a little more than 10 BTC.

In a message not related to today's test launch of trades, the exchange announced that it would send letters to all clients affected by the hacker attack. A copy of the letter is available on the Cryptopia website. In it, the exchange describes the circumstances of the hacking and its further actions.

The company also confirmed that it will pay damages to affected users. Customers who kept cryptocurrency stolen from the exchange will see in their accounts withdrawal records without transaction identifiers, reflecting the extent of the damage. They will get Cryptopia Loss Marker (CLM), which are records in the database of payments due to them.

According to the announcement, the company expects to proceed with the payment of compensation and resume trading until the end of the month after the completion of the necessary legal procedures.