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TagsHow does subrogation claim work in the context of cryptocurrency transactions?
Harshith PabbatiJan 12, 2022 · 3 years ago1 answersCan you explain how subrogation claim works in the context of cryptocurrency transactions? What are the steps involved and how does it affect the parties involved?
1 answers
- Subrogation claim in the context of cryptocurrency transactions is a legal process that allows a third party, such as an insurance company, to recover funds on behalf of the victim of theft or fraud. When a user's cryptocurrency is stolen, the insurance company can initiate a subrogation claim to pursue legal action against the perpetrator and recover the stolen funds. This process involves gathering evidence, filing a claim, and working with law enforcement agencies to track down the stolen assets. It provides an additional layer of protection for cryptocurrency users and helps to mitigate the financial impact of theft or fraud.Jan 12, 2022 · 3 years ago
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