Cryptocurrency mining rigs composed of Antminer S9 ASIC machines operate on racks at the HydroMiner GmbH cryptocurrency mining facility near Waidhofen an der Ybbs, Austria. (Photo: Akos Stiller/Bloomberg)
While users of the troubled Quadriga CX cryptocurrency exchange remain unable to retrieve millions in funds, a startup backed by mainstream companies such as Goldman Sachs says they're able to offer some protection.
BitGo Inc., which provides custodian services on more than $2 billion in digital assets, said it has obtained a policy of as much as $100 million through Lloyd's insurance marketplace that covers the offline storage accounts known as cold wallets that are at the center of the Quadriga debacle. The company has no involvement with Quadriga, which has been unable to access the access the accounts since the death of its founder.
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