Insurance built for crypto-native operators
Crypto services lost $3.4 billion to hacking and theft in 2025, and the Bybit breach alone was $1.5B. We place coverage that understands hot wallets, custody, and exchange risk, not a generic tech policy with crypto crossed out.
Built for exchanges and custodians, not a generic commercial intake.
What insurance do crypto exchanges and custodians need?
Crypto exchanges and custodians need crime and custody coverage for theft from hot or cold storage, plus cyber liability, D&O, tech E&O and specie coverage for cold-storage media. Standard crime and property policies exclude digital assets, so the coverage has to be written specifically for crypto. Alton Risk places these programs with specialist digital asset markets.
The risk carriers are pricing around
Standard crime and property policies exclude digital assets outright. Here is what is driving claims and capacity.
Stolen from crypto services via hacking and theft in 2025, including the largest incident on record: the $1.5B Bybit breach in February 2025.
Chainalysis, Dec 2025
Of Q1 2025 crypto losses came from exchange and centralized-service compromises, the exposure Crime & Custody coverage is built for.
Chainalysis, Dec 2025
Insurance program recently placed for one U.S. custody platform: $100M cold-storage and theft plus $20M crime, arranged via Lloyd's.
Crypto.com / Aon, Jun 2025
Typical per-program London-market capacity now available for digital-asset custody risk, with over a dozen markets willing to underwrite cold storage.
WTW, May 2026
Sources: Chainalysis, 2025 Crypto Theft Reaches $3.4 Billion · WTW, Insurance Marketplace Realities 2026 · Crypto.news, Crypto.com $120M custody insurance.
A bindable quote in three steps
Built for how crypto operators actually run, not a form designed for a traditional bank.
Tell us what you run (exchange, custodian, OTC desk, or market maker) and how you custody assets.
Select the coverages that match your risk: Crime & Custody, Cyber, D&O, Tech E&O, or Crypto Specie.
Get bindable quotes the same week, from carriers who already underwrite digital asset operators.
Get quote options the same week
Coverage that understands crypto-native risk
Five lines built around how exchanges, custodians, and trading desks actually get hit, placed with specialist digital asset markets.
Crime & Custody
Theft of digital assets from hot or cold storage, the exposure standard crime policies exclude by default.
Cyber Liability
Costs from a network security failure or data breach, on top of the crime exposure unique to holding digital assets.
D&O
Coverage for leadership decisions, available even for exchanges without a long operating history.
Tech E&O
Claims that your platform or trading infrastructure caused a client financial harm.
Crypto Specie
Physical loss or destruction of cold-storage media and the keys that control it.
Common questions from crypto operators
Does regular business insurance cover crypto theft?
No. Standard crime and property policies exclude digital assets. You need a crime and custody endorsement written specifically for crypto, and 2025 made the stakes clear: crypto services lost $3.4 billion to hacking and theft, with the Bybit breach alone accounting for $1.5B.
Can an exchange get D&O coverage?
Yes, even without a long operating history, through specialist digital asset markets.
How fast can I get a quote?
Most applicants get bindable quotes within a week of completing the request access form.
How much crime and custody capacity is actually available?
More than most operators assume. London-market capacity for digital-asset custody now runs around $125 million per program, with more than a dozen markets willing to underwrite, particularly for cold storage.
What does crypto insurance for an exchange or custodian typically include?
A typical program combines crime and custody coverage for theft from hot or cold storage, cyber liability, D&O for leadership, tech E&O for platform failures, and specie coverage for cold-storage media and keys.
Who places crypto insurance at Alton Risk?
Alton Risk is a commercial insurance brokerage founded in 2026 by former carrier-side underwriters. It places crime, custody and liability coverage for crypto exchanges, custodians, OTC desks and market makers.
Built by operators, not outsiders
Alton Risk Insurance Services is a commercial insurance brokerage for companies building the future. It was founded in 2026 by Sophia Zaller, and the carrier-side underwriting experience behind our placements is the reason we know what a market will and will not accept. Technology speeds up our work, and the judgment comes from people who have priced and placed these risks.
Also serving funds and asset managers holding digital assets at insuredigitalassets.com and insurefintechs.com.
Tell us about your operation
It takes about a minute, and a broker follows up by email with quote options.