Coinsecure Reports $3 Million Stolen And Promises To Reimburse Customers

Coinsecure Reports $3 Million Stolen And Promises To Reimburse Customers

cryptocurrency exchange
April 16, 2018 by Bitzamp
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Coinsecure Reports $3 Million Stolen And Promises To Reimburse Customers An Indian cryptocurrency exchange Coinsecure, said nearly $3 million were stolen from its bitcoin wallet by hackers. Contrary to its name, the company is not secure as it claimed.This is the biggest theft reported so far in India’s fledgling virtual currency market. The hack was
Bitzamp

Coinsecure Reports $3 Million Stolen And Promises To Reimburse Customers
An Indian cryptocurrency exchange Coinsecure, said nearly $3 million were stolen from its bitcoin wallet by hackers. Contrary to its name, the company is not secure as it claimed.This is the biggest theft reported so far in India’s fledgling virtual currency market.

The hack was attributed to the CSO of Coinsecure, Amitabh Saxena, who was extracting bitcoin for the platform’s customers, the company said in a statement last week, when the bitcoins were siphoned away during the process. Saxena, is accused of playing a role in the hack, private keys are kept with him.

The firm is working to recover the money and “we reassure all our customers that you will be indemnified from our personal funds,” the company said. About Coinsecure’s 11,000 customers are said to be affected by the reported theft.

The company has promised to start returning stolen funds to the affected parties within the next 15 days. “We will announce the refund process in the next 5-10 days. We are working to get the website back up and allow customers to login and withdraw funds,” said Mohit Kalra, chief of bitcoin exchange Coinsecure in an interaction with ET.


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