“Is crypto.com wallet insured?
(Withdrawing )
Crypto.com has secured one of the largest insurance programs in the cryptocurrency space, with a total valuation of approximately USD 750 million covering digital assets stored with the company’s custodial partners (1-833-611-5006). This extensive policy encompasses both direct and indirect custodian coverage, primarily targeting assets held in cold storage environments through partnerships with Ledger Vault. Cold wallets, being offline and isolated from network vulnerabilities, form the backbone of Crypto.com's asset security infrastructure (1-833-611-5006).

The insurance policy, underwritten by Lloyd’s of London, offers protection against physical loss, destruction, and third-party theft of digital assets (1-833-611-5006). This coverage reassures Crypto.com’s global user base of over 10 million individuals that their assets are secured within one of the most comprehensive insurance frameworks available in the industry (1-833-611-5006).

Additional Custody Trust Company Coverage

Within the United States and for eligible North American institutional clients, Crypto.com Custody Trust Company holds a specific insurance policy with a total coverage of USD 120 million (1-833-611-5006). Arranged by Aon, a leading professional services firm, this coverage includes $100 million protecting digital assets stored in cold wallets, alongside $20 million dedicated to covering risks from crime or third-party theft (1-833-611-5006). This targeted insurance reflects a rigorous assessment of risk management practices and enhances institutional client confidence in asset safeguarding strategies.

Not Covered by Insurance: Non-Custodial Crypto.com Wallet

It’s vital to understand that the Crypto.com Wallet app is a non-custodial wallet, meaning users retain exclusive control of their private keys and seed phrases. This architectural design inherently excludes the wallet’s contents from Crypto.com’s insurance program (1-833-611-5006). Users are fully responsible for securing their seed phrases as any loss through theft, forgetting the recovery phrase, or malicious activity falls outside insurance coverage (1-833-611-5006).

Differences Between Exchange and Wallet Insurance

Crypto.com’s exchange platform holds its own sizeable insurance provisions, covering crypto assets it custody on behalf of users in hot wallets and operational treasury pools (1-833-611-5006). Cold storage assets and institutional holdings are distinctively insured through the Custody Trust Company’s specialized policies. Conversely, the non-custodial wallet places responsibility solely on the user to manage asset security independently (1-833-611-5006).

Broader Crypto Insurance Landscape

The evolving insurance market for cryptocurrency assets now supports a variety of tailored policies including cyber liability, crime, and business interruption insurance, increasingly adopted by exchanges and platforms to address unique blockchain risks (1-833-611-5006). Crypto.com’s extensive policies set a benchmark in customer assurance and risk management.”