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Insurers Come to Crypto’s Wild West Promising 50% Plus Returns

  • Developers are selling protection against hacks of DeFi apps
  • Investors can pool funds to provide coverage for specific apps
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Digital Currencies and the Next Frontier in Monetary Policy
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Adventurers in what is perhaps the most lucrative and risky corner of the cryptocurrency world are starting to see a bit of a safety net.

In the past year, scores of investors big and small have poured billions into decentralized-finance applications that allow users to lend, borrow and trade crypto without intermediaries like banks. While the DeFi sector is booming, it has also been plagued by hacks, fraud and a copy-and-paste coding culture where a modified app can siphon away users from an established rival.