Ex @UN Love Art + DeFi Growing @bdicinsurance have two Shibas 🐾🐾
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Joined March 2023
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$BDIC is coming....
Blockchain Deposit Insurance Corporation (BDIC) establishes a Singapore entity, engages Cole-Frieman & Mallon LLP, and updates BDIC Coin Token Sale timing.
Blockchain Deposit Insurance Corporation (BDIC) has established BDIC SG PTE LTD, which is intended to serve as the company’s primary insurance underwriting hub.
What the announcement covers:
→ Singapore: BDIC will begin regulatory engagement with the Monetary Authority of Singapore (MAS) to write policy coverage directly. Until approval, client coverage will be placed through dedicated insurance cells with network partners.
→ Counsel: @CFMLLP Cole-Frieman & Mallon LLP has been engaged as BDIC’s outside counsel in the United States.
“Insurance is an important marker of a mature market. It is time crypto was properly insured,” said Daniel M. Payne, Partner at Cole-Frieman & Mallon LLP.
→ BDIC Coin: the Token Sale is targeted for Q1 2027. BDIC Coin will be issued by a Cayman Islands foundation and its British Virgin Islands subsidiary, independently of BDIC, once those entities are established.
“We are building a global insurance infrastructure, and that is only credible if the legal foundation is done properly and done first,” said Jeffrey A. Glusman, CEO and Founder of BDIC.
Read the full release: blocktelegraph.io/crypto-ins…
#CryptoInsurance #DigitalAssets #Singapore #MAS #InsuranceInnovation
Sun retweeted
You removed the exchange. You didn't remove the factory.
Self-custody is the right move for a lot of people. It also has a supply chain.
Even the most trusted wallets need insurance.
BDICinsurance.com
#selfcustody #cryptoinsurance #bdicinsurance
Sun retweeted
Myth audit: 'A hardware wallet removes all third-party risk.'
Verdict: partly true.
What it does remove: the exchange. No platform insolvency, no withdrawal halts, no account freezes, no one's permission needed to move your own money. That is real, and it is why self-custody matters.
What it does not remove:
The manufacturer and its supply chain, from factory to reseller to your door.
The firmware that generates your seed. If the randomness is weak, the seed can be guessed.
The software that creates or connects to your wallet.
Three incidents since July hit exactly these layers, and none were user error. And one layer always stays with you: how you store the phrase.
Fewer third parties is not zero third parties. Plan for the ones that remain.
BDICinsurance.com
#selfcustody #notyourkeys #cryptosecurity #bdicinsurance
Sun retweeted
How the hidden implant worked, in plain terms.
Some Ledger devices sold through Malaysian reseller CryptoBilis had an extra component added inside the case. During setup, a hardware wallet shows your 24-word recovery phrase on its screen. The implant read those screens and sent the words out over a mobile network using an eSIM. Whoever received them could rebuild the wallet anywhere.
What it did not touch, per Ledger's investigation: the Secure Element, the operating system, transactions or signatures. Ledger says there is no indication its own infrastructure or direct sales channel was compromised.
What Ledger did: paused CryptoBilis sales, asked resellers in seven markets including Hong Kong to pull stock, published a Genuine Check tool, and invited security researchers to examine devices. That is the right way to respond.
If you bought from CryptoBilis in the last 90 days: do not set up an unused device. If you already have, move your funds to a new device with a new recovery phrase.
And for everyone: never share your recovery phrase. Ledger will never ask for it. Anyone offering to recover lost funds for a fee is almost certainly running a scam.
Source: Ledger investigation updates, 11 to 13 October 2026, via CoinDesk and The Hacker News.
BDICinsurance.com
#Ledger #hardwarewallet #supplychain #cryptosecurity #bdicinsurance
Sun retweeted
Three wallet incidents in 80 days.
30 July: a flaw in how some Coldcard hardware wallets generated seeds. An estimated 1,816 BTC, about $116 million, drained from more than 5,200 addresses (TRM Labs).
9 October: Ledger devices sold through a Malaysian reseller, CryptoBilis, were found with a hidden implant that read recovery phrases during setup. More than $86 million in suspected thefts traced onchain. Ledger has not confirmed a total.
18 October: weak randomness in Qubic's wallet software. 1,404 wallets drained in 104 minutes.
None of these were user error. Nobody shared a seed phrase, clicked a bad link or sent funds to the wrong address. The risk sat in a layer they could not inspect: the firmware, the factory, the code.
Self-custody is still the right instinct. This week we look at what it removes, what it doesn't, and where protection fits.
Sources: TRM Labs; CoinDesk; Ledger investigation update; crypto.news.
BDICinsurance.com
#selfcustody #hardwarewallet #cryptosecurity #bdicinsurance
$BTC IYKYK
Sun retweeted
GM. Three weeks, three requirements. A weekend read from BDIC.
In September, crypto gave us three unusually clear lessons about what protection actually means.
Bitget: a funded, self-held backstop paid a $387.5 million loss in full, and customers still moved $463 million out in a day. Protection has to be independent of the platform.
Stablecoins: the reserve behind a digital dollar has never been more rigorous, and a perfectly backed dollar can still be stolen. Protection has to be about the holder, not only the backing.
CoinEx: even the best ending comes with deadlines, conversions and scams, and not every ending is the best one. Protection has to outlast the platform.
Independent. Holder-focused. Built to outlast. That is the standard.
Blockchain Deposit Insurance Corporation (BDIC), the world's first decentralized cryptocurrency deposit insurer, is building to all three. Thanks for reading along. Have a good Saturday.
BDICinsurance.com
#cryptoinsurance #cryptodepositinsurance #bdicinsurance #crypto
Sun retweeted
GM. Twenty minutes this weekend: write an exit plan for every platform that holds your crypto.
One. List every platform, including the ones you stopped using. Dormant accounts are the ones deadlines catch.
Two. For each asset, confirm you have a withdrawal address ready, on the right network, and that you have tested it with a small amount.
Three. Check withdrawal limits and minimums. Know how long a full exit would actually take.
Four. Save each platform's official channels. When a platform closes, impersonators appear within days.
Five. Write down what would make you leave. A rule you set calmly beats a decision made in a panic.
An exit plan will not help if a platform fails without warning. It will help with everything short of that.
Blockchain Deposit Insurance Corporation (BDIC). Have a good weekend.
BDICinsurance.com
#crypto #cryptosecurity #bdicinsurance #selfcustody
Sun retweeted
Glossary: counterparty risk.
Counterparty risk is the risk that the other party in an arrangement fails to do what it promised. In crypto, it is the risk you take whenever someone else holds your assets or owes them to you.
Where it shows up. An exchange holding your balance. A card program holding your stablecoins. A lending platform holding your deposit. A bridge holding assets in transit.
Why it matters. Your own security practices reduce many risks. They do nothing about counterparty risk. If the party holding your assets fails, your care is irrelevant to the outcome.
What reduces it. Holding less with any single counterparty. Choosing counterparties that segregate customer assets. And transferring what remains to protection that does not depend on the counterparty surviving.
Blockchain Deposit Insurance Corporation (BDIC), the world's first decentralized cryptocurrency deposit insurer.
BDICinsurance.com
#glossary #crypto #cryptoinsurance #bdicinsurance
Sun retweeted
CoinEx is closing after nine years, fully backed and with months of notice. It is the best way an exchange can end.
Here is what the other ways look like, and how to prepare for all of them. New article:
medium.com/@bdicinsurance/wh…
#crypto #cryptoinsurance #bdicinsurance #cryptocurrency #education
Sun retweeted
"Every platform ends. The only question is how much notice you get."
CoinEx gave its customers months. Mt. Gox and FTX customers got none.
Protection that lives inside a platform ends when the platform does. Real protection has to be built to outlast it.
Blockchain Deposit Insurance Corporation (BDIC) is building crypto's first independent deposit insurance layer.
BDICinsurance.com
A secure wallet is a secure mind.
#cryptoinsurance #crypto #bdicinsurance
Sun retweeted
Every platform ends eventually. What matters is how.
The collapse. Mt. Gox, 2014. Roughly 850,000 BTC missing. Creditors waited about a decade for distributions to begin.
The insolvency. FTX, 2022. Customer funds could not be repaid on demand. Customers learned their position through a bankruptcy process that took years.
The orderly wind-down. CoinEx, 2026. Reserves above 100%. Months of notice. Customers who act on time lose nothing.
The third is the best case, and even it comes with deadlines, forced conversions, fees and a wave of impersonation scams.
The first two are the cases protection exists for. The only thing you cannot choose is which one your platform turns out to be.
BDICinsurance.com
#crypto #cryptosecurity #cryptoinsurance #bdicinsurance
Sun retweeted
Fraud advisory.
When an exchange winds down, scammers follow. Fake withdrawal portals, fake 'extension' notices, fake recovery services promising to retrieve stuck funds for a fee. CoinEx has already warned that anything issued in its name after its final notice is fraudulent.
New categories attract impersonators too, and crypto insurance is one.
So, plainly: Blockchain Deposit Insurance Corporation (BDIC) is not currently issuing insurance policies or certificates to the public. If someone has sold you a BDIC policy, sent you a BDIC certificate, or asked you to pay to activate BDIC coverage, it is not genuine.
Please report it to [email protected]. Official BDIC information only comes from BDICinsurance.com and our verified accounts.
A secure wallet is a secure mind.
#cryptoscam #fraudawareness #cryptosecurity #bdicinsurance
Sun retweeted
"A perfectly backed dollar can still be stolen."
Stablecoin reserves have never been more rigorous. Treasury-only funds, licensing, public reporting and a federal framework taking effect in January 2027.
That work answers whether a stablecoin will hold its value. It was never designed to answer whether you will still hold it.
Blockchain Deposit Insurance Corporation (BDIC) is building for that second question.
BDICinsurance.com
A secure wallet is a secure mind.
#stablecoins #cryptoinsurance #bdicinsurance #crypto
