CoinHako announces to be the first insured Asian bitcoin exchange

Announcements | April 28, 2015 By:

On Saturday, Apr. 25, CoinHako announced that they are the first Asian exchange to fully insure its Bitcoin reserve, using BitGo’s insurance platform.

“Being insured means that users’ deposits in CoinHako’s hot and cold wallets are now insured against hacking and theft. It does not cover Bitcoin lost or stolen as a result of an individual user’s negligence to maintain secure control over their login credentials,” said CoinHako co-founder Yusho Liu.

Liu added, “we believe this is a big step forward for the industry, given the recent occurrences in other exchanges like Mt. Gox.”

CoinHako is a Singapore-based Bitcoin exchange platform.