Bittrex insured crypto assets of users for $ 300 million !!!

Bittrex exchange insures users' crypto assets for $300 million
American cryptocurrency exchange Bittrexinsured crypto assets of its customers located on cold wallets for $ 300 million.

“According to the terms of the contract, the insurance covers up to $300 million in the event of external theft of crypto assets or internal collusion,” says a press release that was published on Wednesday.

Arch Syndicate acted as insurer2012, which operates in the largest insurance market Lloyd’s of London. The mediator between Bittrex and Arch Syndicate 2012 was Marsh, a leading global insurance broker and risk consultant.

Before concluding an agreement, the exchangedemonstrated the existence of “extensive internal security measures and compliance protocols.” In addition, the underwriters were impressed by the fact that other cryptocurrency exchanges used Bittrex technology to open their own trading platforms.

“Account insurance is necessary in anya growing business, including blockchain and digital assets, said Sarah Downey, co-leader of the Marsh Digital Asset Risk Management Team. “We worked closely with Bittrex to develop an individual insurance solution that can meet their special needs as a cryptocurrency company.”

About two weeks ago, another US exchange, Gemini, opened its own insurance company to protect clients' assets with $200 million in collateral.
source: https://bits.media/birzha-bittrex-zastrakhovala-kriptoaktivy-polzovateley-na-300-mln/

This great news once again shows the evolution in the cryptocurrency market! This sector continues to actively develop and become an increasingly attractive asset!