Bitsurance dey offer insurance against physical attacks on Bitcoin for Europe

Bitsurance, one German insurance company, don launch “Bitcoin physical attack insurance” for people wey dey do self-custody. Di cover include fire, water damage, burglary, robbery, vandalism, plus extortion (di “$5 wrench attack”). Standard limits reach €100,000, and dem get higher limits available. Dem push am because physical coercion dey increase. CertiK data wey report mention say wrench attacks jump 75% year-on-year for 2025, wit 72 incidents wey cause losses over $40 million. Di article talk say normal homeowner policy no go cover BTC wey dey inside hardware wallet, while custodial services fit reduce theft risk but dem remove user sovereignty. How e dey work: Bitsurance dey follow partnership model wit hardware wallet providers (including BitBox). Di product designed to reimburse market value of lost or stolen Bitcoin without making customers give up wallet keys. Company dey operate for Germany now and dem plan expand to Switzerland and Austria. Market context dey warm. AnchorWatch get backing from Lloyd’s of London and dem dey offer wrench-attack coverage with premiums starting at 0.55% of di protected BTC value yearly. Evertas na another insurer wey dey target crypto safety risks. For traders, dis “Bitcoin physical attack insurance” na more about custody-risk pricing than spot demand. E fit slowly reduce di perceived downside of self-custody and small-small affect demand for hardware wallets. But underwriting challenge still dey: if attack frequency keep rising, insurers fit raise prices or tighten terms—na important thing to watch for long term.