Crypto Exchanges Refuse to Reimburse Stolen Coins
On September 8, 2026, cryptoticker.io evaluated the security and protection pages of twelve cryptocurrency exchanges that serve customers in Germany. The investigation found that none of these providers promise to reimburse private account holders for stolen coins, despite a recent $320 million loss from the Liquid Network peg-out.
Kraken was the most clear in its statement, explicitly stating 'No Insurance' on its Legal Disclosures page and also noting that state compensation or supervisory systems do not apply. Bitpanda described its trust arrangement and cold storage practices, but noted that segregation does not provide protection against theft. BISON's security page mentioned deposit guarantee for euro balances up to 100,000 euros per investor and bank.
The study revealed a common misconception among investors: the 100,000 euro protection applies only to euro balances, not cryptocurrency holdings. Bitget and OKX were found to promise protection funds and proof of reserves respectively, but these are not equivalent to insurance against losses. The investigation concluded that customers' coins are largely unprotected in case of theft.