CoinFLEX’s insurance coverage protects a portion of the user funds against losses resulting from theft or cybersecurity threats. CoinFLEX has not shied away and is strongly committed with over $1 million USD of corporate funds that will be used in the insurance fund.
Additionally our custody, wallet, and crypto infrastructure team has been handling crypto exchange funds for 10 years, with zero breaches or hacks and zero losses of client funds.
Losses incurred due to customers’ trading activity or unauthorized behaviour are the sole responsibility of the user and do not fall within the premise of the insurance fund.
CoinFLEX’s client funds are stored with high security and stringent protocols in place, that eliminate human error in addition to external threats. Our primary custodial infrastructure is powered by Fireblocks, supporting us with a multi-layer technology that combines the latest breakthroughs in MPC cryptography with hardware isolation. Fireblocks has $45 billion USD of insurance that covers assets in storage and in transit and this year has raised over $1 billion from various blue chip VC investors and financial institutions. Over $2 trillion in crypto assets have been transferred securely through its platform.
CoinFLEX team will still not rest at that and will continue to deliver further enhancements to client funds security as new technologies and solutions become available.