3 Million Bitcoin Heist Reported by India s Coinsecure - Bloomberg

Check our tools section. Amitabh Saxena spent over three years helping the company realize their vision for the Indian crypto ecosystem, he is now formally joining the team as its Chief Scientific Officer (C.S.O). Saxena was appointed to Coinsecure as Chief Scientific Officer back in late September of last year, to much acclaim. Therefore any request for business transaction in bitcoins should raise suspicious and should be avoided the police department said.

Coinsecure May Refund in Rupees, Not Bitcoin After.4 Million

An official at Delhi-based Coinsecure was extracting Bitcoin to distribute to customers and he claims the funds were lost in the process, parent company Secure Bitcoin Traders Pvt. Bitcoins worth some 190 million rupees (3 million allegedly due to a rogue employee. The firm is working toward recovering the money and we reassure all our customers that you will be indemnified from our personal funds, it said. Amitabh Saxena, was extracting BTG and he claims that funds have been lost in the process during the extraction of the private keys. Its parent company has filed a complaint with local police and asked authorities to bar Saxena from leaving the country until the probe is completed.

Crypto Exchange Coinsecure Says Theft Probe Is Holding

Is the money being traced? Coinsecure is not the only exchange in the world to suffer problems like this. Legal, bonafide businesses do not normally use bitcoins. There was no need to be online while extracting the bitcoin. The hack that happened is also too good to be true.

Coinsecure lost.5 million bitcoin, blamed security chief for stealing

Cookie Use and, data Transfer outside the. On April 10, the exchange filed a complaint with the Delhi Cyber Crime department about the theft of virtual currencies worth 438.318 bitcoins. Bitcoin has climbed about 18 percent this month and was trading at 8,077 as of 9:24.m.

Bitcoin: Coinsecure announces 2 crore reward to recover lost

Coinsecure said it is trying to recover the lost funds, but it will reimburse customers from the company's personal funds. FIR, just two days ago Coinsecure alerted users shortly after filing the FIR, In continuation of our backend updates, we request all users to stop depositing bitcoin core into Coinsecures addresses with immediate effect until further notice.

How safe is the Coinsecure wallet for Bitcoin?

Now that BTC is trading at 8,000 per unit, Coinsecure users have missed out on significant price gains. So the whole locus of Coinsecure can be affected in this case. Now, the hacker seems to be sending the stolen bitcoins to multiple addresses. Also read: Bitgrails 170M Hack Continues to Provide Drama. April 16, 2018 11:22 PM, this past week, Coinsecure lost a little more than 3 million worth of BTC from its bitcoin wallet.

After Losing 3 Million Worth Of Bitcoin, Coinsecure Plans

Coinsecure with over two lakh users across the country, has currently stopped all deposits and withdrawals. Obviously, Coinsecure believes this to be an inside job, one of embezzlement. Matthew is a full-time staff writer for ethnews with a passion for law and technology. If we take a simple average of the day's high and low (not accounting for trading volume at various prices we can estimate that the global price was approximately 6,915.05 per BTC. The companys director Mohit Kalra - who signed on the complaint - couldnt be reached on his mobile phone Friday.