The founder of the Cardano cryptocurrency has called for the implementation of insurance for cryptocurrency holders

Cardano founder Charles Hoskinson has called on the crypto industry to urgently implement insurance mechanisms for digital assets. According to him, the industry simply won’t survive another fifteen years during which users continue to lose funds due to hacks.

Hoskinson emphasized that insurance should cover wallets, crypto bridges, and AI agents. He considers these categories to be critically vulnerable, and protecting them is a prerequisite for the mass adoption of cryptocurrencies by a broad audience.

Separately, the Cardano founder highlighted the Midnight project from IOHK, a company specializing in privacy and data protection. In his view, this solution is exactly what the industry is «desperately lacking» today.

Hoskinson’s remarks reflect a broader discussion within the crypto community regarding infrastructure security. Hacks of decentralized protocols and cross-chain bridges cost users billions of dollars every year, and this trend shows no signs of slowing down.

Introducing comprehensive insurance products for the crypto market remains a challenging task due to the volatility of assets and the unique nature of decentralized systems; however, Hoskinson is convinced that without this step, the industry will not be able to expand beyond its current audience.