The US Court of Appeals for the 4^th Circuit upheld a lower court’s ruling that an individual’s homeowners policy did not cover his loss of $170,000 in crypto to an alleged scam. The three-judge panel ruled that Lemonade Insurance Co. did not breach the terms of the homeowners policy procured by Ali Sedaghatpour because the terms of the relevant policy section stated that coverage is provided for the “direct physical loss” of covered personal property, and digital theft of digital currency does not fall within that scope.