10月30日：黑客从币安窃取了63亿美元，这是全球最大的加密货币盗窃案，将聚光灯投向了加密货币交易所如何为其数字资产投保以防盗窃和网络攻击。
Oct 30 : Hackers stole $6.3 billion from Binance in the world's biggest crypto heist, putting a spotlight on how cryptocurrency exchanges insure their digital assets against theft and cyberattacks.
但保险保障远非统一。保障范围取决于资产如何存储、黑客如何获取访问权限以及保单的具体条款。
But insurance protection is far from uniform. Coverage depends on how assets are stored, how hackers gain access and the specific terms of the policy.
有限的监管和波动的加密货币价格长期以来让保险公司对该行业望而却步，尽管针对数字资产盗窃的保障需求以及针对公司高管的索赔保障需求日益增长。
Limited regulation and volatile crypto prices have long made insurers wary of the sector, despite growing demand for protection against digital asset theft and claims against company executives.
虽然犯罪案件和保障需求都随着加密货币的飞涨而增加，但承保此类风险仍是一项小众业务，主要由劳合社市场和百慕大的专业保险公司提供。什么是数字资产保险？
While both crime and demand for protection have tracked cryptocurrencies' meteoric rise, underwriting such risks remains a niche business offered largely by specialist insurers in the Lloyd's market and in Bermuda. WHAT IS DIGITAL ASSET INSURANCE?
数字资产保险是一系列保单的统称，旨在保护加密货币交易所、托管人及其他从事该行业的公司，免受因数字资产被盗、网络攻击、技术故障及其他商业风险而导致的财务损失。
Digital asset insurance is a range of policies designed to protect cryptocurrency exchanges, custodians and other companies operating in the sector against financial losses arising from the theft of digital assets, cyberattacks, technology failures and other business risks.
与传统保险不同，这些保单专门针对与区块链技术相关的风险量身定制，包括私钥被盗或丢失、钱包安全漏洞、智能合约漏洞以及数字资产托管故障。
Unlike traditional insurance, these policies are tailored to risks associated with blockchain technology, including the theft or loss of private keys, wallet security breaches, smart contract vulnerabilities and failures in digital asset custody.
据Data Bridge Market Research数据，全球加密货币保险市场2025年估值为93.7亿美元，预计到2033年将达到1849.8亿美元。
The global crypto insurance market was valued at $9.37 billion in 2025 and is projected to reach $184.98 billion by 2033, according to Data Bridge Market Research.
该研究公司援引加密货币机构采用率不断提高、网络攻击和数字资产盗窃事件不断增加等因素推动了需求增长。保障范围可包含多种类型的保单：
The research firm cited growing institutional adoption of cryptocurrencies and rising incidents of cyberattacks and digital asset theft among the factors driving demand. Coverage can include several types of policies: • Cyber liability for breaches, hacks and regulatory response
- 董事及高级职员责任险，涵盖针对高管的诉讼损失如何获得赔付？
• Errors and omissions insurance for software bugs, smart contract failures • Directors and officers insurance for lawsuits targeting executives
当加密货币交易所遭遇黑客攻击时，损失可通过保险赔付、公司自有资金以及为赔偿客户而预留的应急资金相结合的方式来弥补。
HOW ARE LOSSES COVERED? When a crypto exchange suffers a hack, losses can be covered through a combination of insurance payouts, the company's own capital and emergency funds set aside to compensate customers.
保险赔付的范围取决于交易所持有的保单，包括其赔付限额、免赔额和免责条款。当损失超过保险金额时，公司必须依靠自身财务资源或其他追偿安排来履行义务。
The extent of insurance coverage depends on the policies held by the exchange, including their limits, deductibles and exclusions. Where losses exceed the insured amount, the company must rely on its own financial resources or other recovery arrangements to meet its obligations.
一些交易所还设有储备金，用于在发生安全漏洞后向客户进行赔付。币安于2018年7月设立了“用户安全资产基金”（SAFU），作为应急储备，旨在极端情况下（如安全漏洞或平台级事故）保护用户。
Some exchanges also maintain reserve funds to reimburse customers following security breaches. Binance established the Secure Asset Fund for Users (SAFU) in July 2018 as an emergency reserve to protect users in extreme cases, such as security breaches or platform-level incidents.
根据币安官网信息，截至2026年，SAFU基金持有价值约10亿美元的加密资产，全部为比特币。币安未立即回应路透社关于其保险覆盖范围的置评请求。什么因素可能阻碍保险赔付？
As of 2026, the SAFU fund holds crypto assets worth roughly $1 billion, entirely in bitcoin, according to Binance's website. The company did not immediately respond to Reuters' request for comment on its insurance coverage. WHAT CAN PREVENT AN INSURANCE PAYOUT?
允许保险公司拒绝特定理赔的免责条款在涵盖数字资产以及加密货币公司董事和高管个人责任的保单中很常见。这些条款可能限制公司可获得的保障范围，并使其更难获得承保。
Exclusions that allow insurers to deny certain claims are common in policies covering digital assets as well as the personal liabilities of directors and officers at cryptocurrency companies. These can limit the scope of protection available to companies and make it harder for them to secure coverage.
这些保单常见的免责条款包括价值波动、投保人实施的欺诈行为，以及不安全或疏忽的密钥管理。传统犯罪险和网络险保单是否涵盖加密货币？
Common exclusions in these policies include value fluctuations, fraudulent acts by the policyholder and unsecured or negligent key management. DO TRADITIONAL CRIME AND CYBER INSURANCE POLICIES COVER CRYPTO?
大多数标准犯罪保险保单不承保加密货币损失，因为它们最初的设计目的是保护现金、证券和贵金属等实物财产。
Most standard crime insurance policies do not cover cryptocurrency losses, as they were originally designed to protect physical property such as cash, securities and precious metals.
传统的网络责任保险也不一定涵盖黑客攻击中被盗数字资产的价值。虽然网络保险可以涵盖第一方损失和第三方责任，包括取证调查、客户通知和法律费用，但通常不包括资金的损失或转移。
Traditional cyber liability policies also do not always cover the value of digital assets stolen in a hack. While cyber policies can cover both first-party losses and third-party liabilities, including forensic investigations, customer notifications and legal expenses, they generally exclude the loss or transfer of funds.
因此，除非增加了特定的数字资产保障，否则独立的网络保险通常不涵盖被盗加密货币的全部价值。保险公司如何评估加密货币盗窃索赔？
As a result, standalone cyber policies typically do not cover the full value of stolen cryptocurrency unless specific digital asset coverage has been added. HOW DO INSURERS ASSESS CRYPTO THEFT CLAIMS?
保险公司会审查违规是如何发生的、哪些系统受到了损害，以及由此产生的损失是否属于保单的保障范围。
Insurers examine how a breach occurred, which systems were compromised and whether the resulting loss falls within the policy's coverage.
他们还可能评估交易所是否遵循了要求的安全程序，包括对私钥、钱包访问权限和交易审批的控制。
They may also assess whether the exchange followed required security procedures, including controls over private keys, wallet access and transaction approvals.
外部黑客窃取凭证与员工故意转移资产之间的区别，可能决定是犯罪保险还是网络保险承担该损失。
The distinction between an external hacker stealing credentials and an employee deliberately transferring assets can determine whether a crime or cyber insurance policy covers the loss.