Bloomberg: Binance’s $6.3 billion hack may not be covered by insurance, sources say the exchange lacked cyber insu

Binance's roughly $6.3 billion crypto theft may go largely uncompensated by insurance, as the exchange holds directors-and-officers (D&O) coverage—relevant to regulatory probes or litigation—but lacks a dedicated cybersecurity policy for the attack losses, Bloomberg Law reported Nov. 3, citing people familiar with the matter. The report highlights a broader industry problem: crypto firms struggle to obtain cyber insurance, and even those carrying digital-asset, crime, or management-liability policies often face exclusions that limit actual payouts. Watch for whether Binance discloses any recoverable coverage, the scope of policy exclusions invoked, and how insurers' appetite for crypto-sector cyber risk evolves.