Insurance Company Sued for Refusing to Cover $7.5 Million Bitcoin Ransom Payment – Featured Bitcoin News

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A British jeweler has sued its insurance company for refusing to cover a bitcoin ransom payment of $7.5 million. $BTC crypto cryptocurrency

Insurance Company Faces Lawsuit for Refusing to Cover Bitcoin Ransom Payment

The jeweler paid a bitcoin ransom of $7.5 million to the Russian hacking gang Conti after the group threatened to leak data of the company’s big clients, including Middle East royalty. Graff negotiated the ransom payment amount with the hackers and managed to reduce it from $15 million. “Our goal is to publish as much of Graff’s information as possible regarding the financial declarations made by the US-UK-EU neo-liberal plutocracy, which engages in obnoxiously expensive purchases when their nations are crumbling under economic duress,” the hacking group reportedly said.

Some insurers offer cyber insurance policies that cover crypto ransom payments. However, experts have warned that insurers are inadvertently funding organized crime by paying out claims from companies who paid ransoms.

 

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He should ask for GBPT as well.

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That's a huge amount of usdt, insane

Insurance companies are in big trouble right now

2022 too many events happen

Insurance companies' claims due to faltering payment plans are signs of economic collapse

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