insurace

ChainCatcher news, the DeFi insurance protocol InsurAce officially announced on Twitter that its Discord server currently has a security vulnerability. The InsurAce team discovered unauthorized access earlier today, and the team is taking this incident very seriously and is working to rectify the situation. In the meantime, users are advised not to interact with the server.

ChainCatcher news, the DeFi insurance protocol InsurAce has released its 2023 roadmap. According to the official introduction and roadmap, InsurAce will focus on increasing revenue, launching new products, and developing a Crypto Deposit Insurance Scheme (CDIS) in 2023, which will provide insurance for users' cryptocurrency deposits in the event of CEX, CeFi failures, or projects being hacked.In addition, the roadmap indicates that InsurAce's updates for the first quarter of this year include the launch of new cross-chain bridge insurance and an extended version of the existing insurance smart contract, Post-Audit Cover. (source link)

ChainCatcher news, Web3 insurance protocol InsurAce founder Oliver tweeted that after the UST and FTX collapse events, the InsurAce team is currently collaborating with relevant industry organizations and regulatory bodies to begin exploring the establishment of a Crypto Deposit Insurance Scheme (CDIS). CDIS is similar to the insurance infrastructure of the Federal Deposit Insurance Corporation (FDIC) in the traditional financial industry. When financial institutions go bankrupt, this insurance scheme will intervene to provide compensation coverage for small and medium-sized users.Oliver stated that CDIS, as an infrastructure for industry risk management, will greatly stabilize the market, rebuild confidence, and protect user value. In the long term, this will also promote the healthy and orderly development of the digital currency industry. Previous report, InsurAce had completed approximately $12 million in insurance payouts to users who insured against UST de-pegging in August of this year. (Source link)