The salient points of this article may be summarized as follows:
- Cyber security is still lacking in its effectiveness despite the advances in technology backing the crypto industry.
- The lack of its effectiveness is underlined by the fact that the number of security breaches reported by the crypto custodians have not abated.
- In response to the losses incurred by the crypto industry, insurance companies have been stepping forward to meet the demand for crypto insurance, although they have been and continue to be extremely cautious in their offerings.
- Regulatory uncertainty is one of the biggest impediments insurance companies are facing at the moment.
