Bloomberg: Binance's $6.3 Billion Hack May Not Receive Insurance Payout, Sources Say It Lacked Cyber Coverage

According to Bloomberg Law, citing insiders, Binance may not be able to secure large-scale insurance payouts following the theft of approximately $6.3 billion in crypto assets. Insiders revealed that while Binance holds directors and officers liability insurance (D&O) to cover regulatory investigations or lawsuits stemming from the incident, it has yet to secure cyber insurance to cover losses from cyberattacks.