Hacked Crypto Exchange Coinsecure Begins Compensation Process

Hacked Crypto Exchange Coinsecure Begins Compensation Process

News
June 27, 2018 by Henrik Bliss
1453
  Indian bitcoin exchange Coinsecure has announced that it has begun the process of compensating customers who lost funds in major hack earlier this year. The exchange reported in April this year that it lost 438.88 BTC (approx. $3.3 million at the time) to hackers. In an online post on Wednesday, Coinsecure states: “We are happy to inform you that we
Bitzamp



 

Indian bitcoin exchange Coinsecure has announced that it has begun the process of compensating customers who lost funds in major hack earlier this year.

The exchange reported in April this year that it lost 438.88 BTC (approx. $3.3 million at the time) to hackers. In an online post on Wednesday, Coinsecure states:

“We are happy to inform you that we have started the process of compensating our customers in Indian Rupees, ex gratia, for the loss of their Bitcoins in the attack that occurred on April 9, 2018. Users will be required to sign an agreement releasing Coinsecure of any future liability and provide certain other documents in order to receive the payment.”

According to the post, users have to duly sign and deliver the document to Coinsecure, along with other documents, before June 30, 2018.

“We will not entertain any claims received after June 30, 2018 and we shall have no liability towards any users who try to submit claims after the said date,” it added.

Previously, the company stated that for the compensation process, it “will apply the lock in rates as of the 9th of April, 2018. 10% of the Coin Holding Balance will be refunded in BTC and 90% will be returned in INR.”

With bitcoin’s closing price on April 9 at $6780, affected customers stand to benefit from the compensation as the BTC/USD is currently trading at 6076 levels at the time of writing.

 


Join Us On Telegram | Twitter | Facebook


Add a Comment