Hi, is it correct that your funds are insured on

To clarify Nexo doesn't own that insurance. The custodians have insured themselves, and it is the custodians who can recoup the losses from any potential hack, Nexo would not necessarily get any of that insurance money.

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17.01.2022

Jimbo Jones

Kristian
To clarify Nexo doesn't own that insurance. The cu...

I am pretty sure they do(trying to keep my copy paste short to not get blocked) Nexo’s total insurance is currently $375 million

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17.01.2022

Kristian

Jimbo Jones
I am pretty sure they do(trying to keep my copy pa...

Yeah, just more misleading and dishonest marketing. They mean that their custodians have a total of $375 million.

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17.01.2022

Medeiros Автор вопроса

Barly_ B
I’m having the same problem too, how do I resolve ...

https://www.blockdata.tech/blog/general/defi-insurance-simply-explained This article is very informative.

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17.01.2022

Kristian

Kristian
Yeah, just more misleading and dishonest marketing...

To be fair their competitors have been using similar language. Like when YouHodler say they have $150 million insurance that that actually belongs to Ledger Vault, and its THE SAME $150 million that is included in the $375 million Nexo figure. CoinLoan claiming $100 million, which belongs to BitGo and is ALSO included in the $375 million. Nexo has exactly $0 insurance.

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17.01.2022

Medeiros Автор вопроса

Barly_ B
I’m having the same problem too, how do I resolve ...

Google DeFi Insurance: Simply Explained

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17.01.2022

Barly_ B

Medeiros
Google DeFi Insurance: Simply Explained

Are you still facing the same problem?

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17.01.2022

Jimbo Jones · Accepted Answer

Jimbo Jones

Nexo has insurance for their custodians so if the custodians get hacked Nexo can recoup some of the losses. Your funds personally are not fully insured nor are you insured if your account is compromised

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17.01.2022

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Hi, is it correct that your funds are insured on

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