Home News Exchange Breaking! Crypto Exchange Coinsecure Announces They Have Been ‘Hacked’, Bitcoins Stolen

Breaking! Crypto Exchange Coinsecure Announces They Have Been ‘Hacked’, Bitcoins Stolen

April 13, 2018 00:41
Share with your friends

Cryptocurrency exchange Coinsecure, announced late on Thursday that their system was compromised and a certain number of bitcoin was transferred to an account not under their control.’

According to a preliminary report by a source, the number of bitcoin that has been stolen is 438. However, this needs to be verified independently.


The statement read, “The current issue points towards losses caused during an exercise to extract BTG to distribute to our customers. Our Chief Scientific Officer (CSO) Dr. Amitabh Saxena was extracting BTG and he claims that the funds have been lost in the process during the extraction of the private keys.”

The exchange states that it is moving round the clock, to restore services and will try to recover all the lost funds and will keep its users updated on the outcome to ensure utmost transparency.

When the exchange discovered the discrepancy, they filed an First Information Report against Amitabh Saxena as he had most of the private keys. The FIR stated, “Since all the private keys are with Dr. Amitabh Saxena, we feel he is creating a false story in order to divert our attention from the issue and he might have a role to play in this matter.”

The copy of the FIR is given below:

Upon being asked, a spokesperson from the exchange told Crypto-News India, that the news is true.

UPDATE: According to a report in Times of India, Senior officers of Delhi Police’s Cyber Cell confirmed the incident and a case was registered under IPC sections and Section 66 of the IT Act. The company told the police that they found out about the theft on Monday. A senior security officer found that all the bitcoins that were stored offline had vanished. It was later found that the private keys — the password that is kept by the company and is stored offline — were leaked online, leading to the hack.

The company tried to trace the hackers but they found that all the data logs pertaining to the affected wallets had been removed and that there was no way to find out where the bitcoin had been transferred.

Liked what you read? Join us on Telegram


Please enter your comment!
Please enter your name here