• Latest
Munich Re Insures Curv’s Crypto Wallet To the Tune of $50 Million

Munich Re Insures Curv’s Crypto Wallet To the Tune of $50 Million

May 10, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Business

Munich Re Insures Curv’s Crypto Wallet To the Tune of $50 Million

coinnewsdaily by coinnewsdaily
May 10, 2019
in Business
0
Munich Re Insures Curv’s Crypto Wallet To the Tune of $50 Million
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022

Crypto security company Curv has obtained up to $50 million of insurance coverage for its institutional customers from reinsurance giant Munich Re.

The coverage, announced Friday, is an add-on to the Tel Aviv-based Curv’s Institutional Digital Asset Wallet Service,

“Curv will have the financial capability to pay for losses of crypto assets,” the partners said in a press release Tuesday.

The startup claims that “digital assets cannot be stolen from Curv’s Wallet Service with a single cyber breach or even through insider collusion.” Even so, the insurance policy is available as a further line of defense.

Specifically, Munich RE is insuring Curv against the risks of “an external cyber breach or malicious behavior by Curv or one of its employees,” Curv said. Customers using the wallet can opt-in for the insurance by paying an additional cost based on the amount of assets they store with Curv.

Munich Re audited Curv’s technology and found “their approach enables us to underwrite a policy that covers customer-controlled wallets in Internet-connected settings,” said Ali Kumcu, Munich Re’s head of cyber innovation and services.

That approach dispenses with the usual mix of so-called hot wallets, which are connected to the internet, and cold storage, in which cryptographic private keys are kept on a piece of paper or an offline device and locked away in a safe or even an electromagnetic field-proof cage.

Instead, “the product applies multi-party-computations to the private key signing mechanism, eliminating the private keys altogether,” explained Curv CEO Itay Malinger. “This brings a distributed security model to the signature mechanism.”

The company raised $6.5 million in February 2019 from Team8 and Digital Currency Group.

With its security system, “Curv can enforce a corporate [access] policy from the cloud and completely out of band, so that an attacker or an insider within Curv or within its customers are unable to sign transactions because they simply don’t have enough cryptographic material,” said Malinger, concluding:

“This is also what makes the service insurable.”

Photo by James Sutton on Unsplash.

Credit: Source link

Tags: BusinessCryptoCrypto BusinessDigital Currency Groupinsurance coverageinsurance policyprivate keyTeam8
Share76Tweet48
Previous Post

Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 10

Next Post

Boston Fed Announces Plans To Design a Blockchain ‘Supervisory Node’

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin
Alt Coin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?
Alt Coin

What is the future of Ethereum (ETH)?

April 22, 2022
Load More
Next Post
Boston Fed Announces Plans To Design a Blockchain ‘Supervisory Node’

Boston Fed Announces Plans To Design a Blockchain 'Supervisory Node'

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$23,042.00-0.17%
  • ethereumEthereum(ETH)$1,579.17-0.95%
  • tetherTether(USDT)$1.000.01%
  • binancecoinBNB(BNB)$306.270.44%
  • rippleXRP(XRP)$0.4110730.44%
  • cardanoCardano(ADA)$0.3838950.94%
  • dogecoinDogecoin(DOGE)$0.0888642.93%
  • matic-networkPolygon(MATIC)$1.12-2.10%
  • okbOKB(OKB)$38.677.96%
  • solanaSolana(SOL)$24.110.23%
  • polkadotPolkadot(DOT)$6.44-0.08%
  • shiba-inuShiba Inu(SHIB)$0.0000122.42%
  • litecoinLitecoin(LTC)$87.970.32%
  • tronTRON(TRX)$0.062549-0.45%
  • daiDai(DAI)$1.00-0.02%
  • cosmosCosmos Hub(ATOM)$13.301.13%
  • chainlinkChainlink(LINK)$7.24-0.16%
  • leo-tokenLEO Token(LEO)$3.74-2.32%
  • moneroMonero(XMR)$182.724.93%
  • ethereum-classicEthereum Classic(ETC)$21.76-0.15%
  • bitcoin-cashBitcoin Cash(BCH)$133.35-1.51%
  • stellarStellar(XLM)$0.0927781.00%
  • crypto-com-chainCronos(CRO)$0.0812840.44%
  • filecoinFilecoin(FIL)$5.28-0.82%
  • algorandAlgorand(ALGO)$0.2554141.53%
  • vechainVeChain(VET)$0.024084-1.04%
  • internet-computerInternet Computer(ICP)$5.94-1.27%
  • aaveAave(AAVE)$85.25-4.02%
  • eosEOS(EOS)$1.09-2.39%
  • elrond-erd-2MultiversX(EGLD)$44.511.31%
  • theta-tokenTheta Network(THETA)$1.09-2.16%
  • tezosTezos(XTZ)$1.11-0.76%
  • paxos-standardPax Dollar(USDP)$1.00-0.33%
  • bitcoin-cash-svBitcoin SV(BSV)$43.42-1.00%
  • huobi-tokenHuobi(HT)$5.080.80%
  • havvenSynthetix Network(SNX)$2.46-3.34%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.980.47%
  • iotaIOTA(MIOTA)$0.236584-2.63%
  • makerMaker(MKR)$658.650.19%
  • zcashZcash(ZEC)$45.16-1.74%
  • neoNEO(NEO)$8.21-0.23%
  • dashDash(DASH)$50.69-0.29%
  • zilliqaZilliqa(ZIL)$0.0296363.29%
  • compound-governance-tokenCompound(COMP)$56.624.55%
  • basic-attention-tokenBasic Attention(BAT)$0.260005-0.86%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • nemNEM(XEM)$0.038718-2.13%
  • kusamaKusama(KSM)$36.621.92%
  • bitcoin-goldBitcoin Gold(BTG)$17.370.23%
  • wavesWaves(WAVES)$2.790.34%
  • qtumQtum(QTUM)$2.64-2.13%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • sushiSushi(SUSHI)$1.30-0.83%
  • yearn-financeyearn.finance(YFI)$7,620.910.17%
  • golemGolem(GLM)$0.247124-0.28%
  • omisegoOMG Network(OMG)$1.490.86%
  • ontologyOntology(ONT)$0.214289-2.08%
  • digibyteDigiByte(DGB)$0.010765-2.00%
  • umaUMA(UMA)$2.04-0.69%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%