Interest in addressing insurance issues in the crypto space has long been insufficient, as evident from the industry’s typical response to challenging problems. Insurance is arguably the most critical component of crypto today, and the industry urgently needs new metrics to demonstrate significant progress from the current state.

Think back to the last time the crypto space went two consecutive months without a protocol treasury being hacked—it never happened.

DeFi protocols and various smart contracts remain vulnerable to attacks, and trust is gradually eroding.

From January to May 2026 alone, over 50 incidents occurred, resulting in total losses exceeding $840 million—a 70% increase compared to the same period in 2025. If we extend…