Today, crypto wallet and blockchain security firm
Ledger announced it has obtained a crime insurance policy for digital assets. It covers assets stored in the Ledger Vault platform for up to $150 million in a policy designed with Marsh and UK-based Arch Insurance, with the risk underwritten by Lloyd’s syndicates.
Ledger produces hardware wallets and software solutions for securing digital assets. It is perhaps best known for the Nano physical wallet, of which the firm has sold over 1.5 million devices. Two years ago, the Nano S was infamously
hacked by a teenager. But today’s insurance policy covers assets in Ledger Vault, a separate platform for financial institutions.
Vault combines hardware devices and an online portal, with multi-authorization and tailored permissions capabilities. Now, clients using Vault can benefit from $150 million in cover for third-party theft, insider collusion, and master seed theft during onboarding. The firm obtained the insurance at no extra cost to Vault users.
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