Two crypto exchanges lacked insurance coverage as of Aug. 14

Two coin-only crypto exchanges, Guardian Holdings and CoreDAX, were uninsured as of Aug. 14, Maeil Business TV reported, citing data South Korean lawmaker Park Sang-hyuk of the Democratic Party received from the Financial Supervisory Service on Sept. 2. Both exchanges had previously carried insurance policies providing 500 million won coverage for one year from July 19 last year, but did not renew after those policies expired. The other 26 operators had either set aside reserves internally or purchased insurance with coverage of at least 500 million won from insurers.