Claim Records
Post-mortem of claims.
Cover Product: Custodian Risk Cover - FTX
Result: Accepted
Remarks: Total payout amount of $16,839.14 to 2 cover holders.
Cover Product: UST De-Peg Cover
Result: Accepted
Remarks: Total payout amount of $11.7 million to 155 cover holders.
Cover Product: Smart Contract Vulnerability Cover - Elephant Money
Result: Accepted
Remarks: This is a NON-CLAIMABLE event as all affected cover holders only suffered a loss due to the devaluation of ELEPHANT and TRUNK tokens which does not fall under the coverage provided by the smart contract vulnerability cover. However, InsurAce team proposed a one-time special compensation plan with $98,000 BUSD paid to 9 cover holders.
Cover Product: Smart Contract Vulnerability Cover - Uniswap V2
Result: Rejected
Remarks: No reported exploit on smart contracts of Uniswap V2. No providing of evidence to prove the loss. Hence, InsurAce team is unable to verify the loss.
Cover Product: Smart Contract Vulnerability Cover - Instadapp
Result: Rejected
Remarks: Cover owner submitted claim on 2023/04/12 to claimed for his loss suffered on 2023/04/10 based on his claim description.
The cover period for this cover is from 2023/02/27 to 2023/03/14. Based on the claim process stated in the cover wording, the claim must be submitted in respect of a Claimable Risk Event that occurred within the Cover Period before the expiration of 15 days after the Cover Period has expired, failing which there shall be no Claim under the Cover.
Cover Product: Smart Contract Vulnerability Cover - Stader
Result: Rejected
Remarks: No reported exploit on smart contracts of Stader. No providing of evidence to prove the loss. Hence, InsurAce team is unable to verify the loss.
Cover Product: Smart Contract Vulnerability Cover - Uniswap V3
Result: Rejected
Remarks: There was no malfunction of the Uniswap V3 contracts. Cover owner’s loss was mainly due to he mistakenly set the wrong price of VAI (10 times the market price) and the price range for his liquidity position when creating the new liquidity pool. This enabled another person to swap VAI to ETH at an extremely high price which then resulted in him receiving far less VAI tokens.
Cover Product: Smart Contract Vulnerability Cover - Francium
Result: Rejected
Remarks: No reported exploit on smart contracts of Francium. No providing of evidence to prove the loss was due to malfunction of smart contracts of Francium . Hence, InsurAce team is unable to verify the loss.
Cover Product: Smart Contract Vulnerability Cover - Beefy
Result: Rejected
Remarks: No reported exploit on smart contracts of Beefy. No providing of evidence to prove the loss. Hence, InsurAce team is unable to verify the loss.
Cover Product: Smart Contract Vulnerability Cover - Planet Finance
Result: Rejected
Remarks: No reported exploit on smart contracts of Planet Finance.
Cover Product: Smart Contract Vulnerability Cover - Single Finance
Result: Rejected
Remarks: Claim cancelled upon user confirmation.
Cover Product: Smart Contract Vulnerability Cover - Ten Finance
Result: Rejected
Remarks: No reported exploit on smart contracts of Ten Finance. No providing of evidence to prove the loss. Hence, InsurAce team is unable to verify the loss.
Cover Product: Smart Contract Vulnerability Cover - Mirror Finance
Result: Rejected
Remarks: Claim cancelled upon user confirmation.
Cover Product: Smart Contract Vulnerability Cover - Orion Money
Result: Rejected
Remarks: No reported exploit on smart contracts of Orion Money. User claimed for the loss of value of his investment funds due to UST de-peg. This does not fall under the coverage provided by the smart contract vulnerability cover.
Cover Product: Smart Contract Vulnerability Cover - Autofarm
Result: Rejected
Remarks: No reported exploit on smart contracts of Autofarm. No providing of evidence to prove the loss. Hence, InsurAce team is unable to verify the loss.
Cover Product: Custodian Risk Cover - Coinbase
Result: Rejected
Remarks: User claimed to suffer a loss on the Coinbase Wallet which is a non-custodian wallet. This does not fall under the coverage provided by the custodian risk cover on Coinbase Exchange.
Cover Product: Smart Contract Vulnerability Cover - Beefy
Result: Rejected
Remarks: No reported exploit on smart contracts of Beefy. No providing of evidence to prove the loss. Hence, InsurAce team is unable to verify the loss.
Cover Product: Smart Contract Vulnerability Cover - Platypus Finance
Result: Rejected
Remarks: No reported exploit on smart contracts of Platypus Finance. No providing of evidence to prove the loss. Hence, InsurAce team is unable to verify the loss.
Cover Product: Smart Contract Vulnerability Cover - Tulip Protocol
Result: Rejected
Remarks: No reported exploit on smart contracts of Tulip Protocol. No providing of evidence to prove the loss. Hence, InsurAce team is unable to verify the loss.
Cover Product: Smart Contract Vulnerability Cover - Autofarm
Result: Rejected
Remarks: No reported exploit on smart contracts of Autofarm. User claimed for a loss from the IRON-USDC SLP he staked on Autofarm due to an attack on Titan.
Last modified 5mo ago