Hack at Bitonic Leads to Full Compensation for Customers

A recent hack at Bitonic resulted in the theft of bitcoin from three accounts. Bitonic fully compensated the affected customers, but such compensation is not automatic after every hack. Crypto is not covered by the Dutch deposit guarantee of up to 100,000 euros per bank. The MiCA regulation requires licensed crypto custodians to segregate customer assets and may hold them liable for losses due to incidents attributable to them. The cause of the hack is crucial in determining the right to compensation. In cases of phishing or stolen login credentials, it must be established where the security failed. Bitonic received a MiCA license in November 2025 to hold bitcoin on behalf of customers. Customers can check in the AFM register whether their provider has a license and request the custody policy.

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