Insurance companies race to cover crypto kidnap and ransom risks
Crypto executives and investors are turning to kidnap and ransom insurance as violent attacks targeting crypto wealth continue to rise.
A wave of violent attacks on cryptocurrency holders is pushing insurers to develop new protections aimed at a growing physical threat: kidnapping for crypto.
At least three firms specializing in crypto insurance and security are now preparing tailored kidnap and ransom (K&R) policies for digital asset investors, according to a recent report from NBC News.
Rebecca Rubenfeld, chief operating officer of AnchorWatch, said fear of violence was a dominant topic at this week’s Bitcoin Conference in Las Vegas. “They’re tense,” Rubenfeld said. Her firm expects to launch K&R coverage by fall.
