Bittrex Secures $300 Million In Cryptocurrency Insurance Against Cryptocurrencies Theft
The US-based famous cryptocurrency exchange Bittrex announced to secures the $300 million in digital currency insurance against any type of exchange hack and cryptocurrency theft for the future, reported on 29 Jan 2020.
As per the report, the Bittrex exchange has worked Marsh which is the world’s famous insurance broker and risk adviser for a long time. So Bittrex insured the $300 million of funds with full terms and conditions where the policy will have to cover the $300 million of assets if any external theft and collusion occurred on the Bittrex exchange.
“Bittrex focuses on doing the right thing by our customers with security at the top of our mind. This insurance coverage provides another layer of peace of mind, From our institutional customers to hobbyists, we are committed to prioritizing security throughout all of our decisions and forward looking blockchain technologies ”
– Bill Shihara, CEO Bittrex
Bittrex reported that in the crypto industry, obtaining insurance is very important for its internal security and stability compliance protocols.
Recently, In Switzerland, the municipality of Zermatt start accepting bitcoin for the tax and other official payments from its local people.
