Product analysis

Custody cover:
a retired product.

Cover against an exchange freezing withdrawals or going insolvent (the FTX scenario): but only pays once withdrawals are blocked for over 90 days. Product withdrawn.

Raccoon Score 49/100 Weak

Who this is for: Users holding balances on a centralised exchange

Verdict

A strong track record on a product that is no longer offered. Custody Cover has the best-documented paid-claims record in the mutual (FTX, BlockFi, Hodlnaut in 2022, with itemised decisions), but Nexus has retired the entire CEX custody class: no listing is buyable, capacity is zero. For exchange-custody protection today it offers none. The withdrawal is itself an informative signal: a provider that had paid on this risk chose to stop underwriting it, consistent with how correlated custodian failures proved to be in 2022.

Confidence: high 5 red flags As of 2026-07-14

Full report locked

The score above is free. The full analysis behind it is a paid, sourced report.

Coverage check & real-risk fit
Coverage gap map
Claims process & payout history
Live on-chain data & capital
Loss simulator (stress test)
Premium cross-check
Red flags & open questions
Full Raccoon Score (7 categories)
Methodology & sources

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Custody cover:a retired product.

Full report locked

Custody cover:
a retired product.