Published On: Fri, Apr 13th, 2018

$3.5 Million in Bitcoin Stolen in Coinsecure Exchange Hack – Security Chief Suspected

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Users of Indian cryptocurrency exchange, Coinsecure, who tried to access their bitcoins were met with a nasty surprise when it became evident that the exchange had been hacked.
According to the International Business Times, Coinsecure is the latest crypto exchange to experience a security breach. Most of the wallets on the Indian platform were hacked, resulting in the loss of more than 430 bitcoins with an approximate value of over $3.5 million.
After users became aware of the unfortunate situation, the exchange put up the below statement:
We regret to inform you that our Bitcoin funds have been exposed and seem to have been siphoned out to an address that is outside our control.
According to the exchange, the hack appears to have occurred when Coinsecure was in the process of extracting Bitcoin Gold (BTG) to allocate to their clients:
The current issue points towards losses caused during an exercise to extract BTG to distribute to our customers. Our Chief Strategist 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.

438 bitcoins worth about Rs 20.5 crore allegedly stolen from Delhi based exchange, Coinsecure. #Coinsecure #bitcoin # …

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