Cover Overview
Who is this for?
Custody Cover is for investors and institutions holding significant crypto on a centralized exchange. After FTX halted withdrawals in 2022, Nexus Mutual paid out more than $4.9 million to members who held Custody Cover, one of the largest claims events in our company history.
Why is it useful?
Centralized custodians carry inherent operational risks that could impede withdrawals, including bankruptcy, insolvency and more. One of the most important lessons from 2022 is that custody risk is real, and Custody Cover from Nexus Mutual has proven to be effective when it matters most.
