Bitcoin Life Insurer Raises $37.5M; Ledger Probes $72M Crypto Theft

Bermuda-based Meanwhile, a life insurer licensed to operate entirely in Bitcoin, announced $37.5 million in new funding from existing investors, bringing total capital raised to more than $180 million. The round was led by Bain Capital Crypto, with participation from Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital. Backers include OpenAI CEO Sam Altman. The company said the funding follows increased international demand for its Bitcoin-denominated life insurance policies, particularly across Asia, Europe, and the Middle East. "Wealthy families around the world already hold Bitcoin. What they haven't had is a regulated way to pass it on," said co-founder and CEO Zac Townsend. The company positions its product as a compliant inheritance and wealth-transfer vehicle for BTC holders.

Hardware wallet manufacturer Ledger is investigating reports of cryptocurrency losses linked to devices sold by an authorized Southeast Asian reseller, as onchain researchers estimate combined thefts exceeding $72 million. Ledger has instructed CryptoBilis, an authorized reseller operating in Indonesia, Malaysia, and the Philippines, to suspend sales and shipments during the probe. Customers who purchased devices from CryptoBilis in the past 90 days have been advised not to activate them, and existing users have been urged to transfer holdings to a new Ledger wallet with a freshly generated recovery phrase. Onchain investigator tanuki42 identified eight addresses allegedly tied to more than $72 million in stolen funds, while researcher Specter estimated losses above $86 million across Bitcoin, Ethereum, and Tron. Security Alliance (SEAL) has called on potential victims whose funds reached the flagged addresses to coordinate with the organization.

Separately, the European Securities and Markets Authority (ESMA) opened a consultation seeking industry feedback on the use of tokenized collateral in clearinghouses. The move signals growing regulatory engagement with blockchain-based assets in traditional financial infrastructure across the European Union.