This proves that there is no guarantee that cryptocurrencies in exchanges are not hackable.
Crypto Exchange Bithumb Reportedly Hacked of Almost $19 Mln in EOS, XRP
According to crypto exchange Bithumb, the exchange detected unusual withdrawal activity.
Report say that almost $19 million worth of EOS and XRP have been hacked. The exchange say that they have recovered $14 million worth of cryptocurrencies back. Even though some cryptocurrencies have been recovered, the coins are lost when it is transferred from exchange to private wallet.
This kind of hacks bring fear to investors and traders. There should be some kind of protection that makes people feel that they will not lose their cryptocurrencies.
INZURA brings solution to this problem. INZURA is an insurance platform where cryptocurrencies in exchange can be covered under insurance policy through premium provided in the platform. INZURA also provides claim benefit of 5 times the premium value.