Do exchanges have any insurance on user deposits ?

onlinemarketer12

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Do major crypto exchanges have any type of insurance for user desposits or funds ? What will happen in case a major exchange like binance is hacked ?
 
Until now, I have never seen an exchange that has this feature to protect user's money from hackers and security issues. Maybe someone has more information about it
 
No, they want to rip you off. *nervous laughter* *makes a serious face*

Watch out for outright scam exchanges, google around...
 
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