Fordefi Secures Cyber Threat Insurance from Munich Re for DeFi Wallets

Fordefi, a cryptocurrency wallet focused on decentralized finance (DeFi), has obtained insurance coverage for cyber threats and crimes from Munich Re, a German insurance giant. The policy, whose dollar amount was not disclosed, was facilitated by Lockton's Emerging Asset Protection team. The coverage protects against external cyber threats and attacks that could compromise the platform, as well as internal fraud or collusion. Munich Re's involvement with Fordefi marks a deeper exploration into the DeFi arena, according to Fordefi CEO Josh Schwartz.