$3 million Bitcoin stole India’s Coinsecure xchange


Coinsecure, an Indian cryptocurrency exchange, said almost $3 million was stolen from its bitcoin wallet, the biggest reported so far in the country’s fledgling virtual currency market.

In a statement posted to its website Thursday,  Chief Security Officer  Amitabh Saxena was obtaining a cryptocurrency known as bitcoin gold in order to assign it to customers . But Coinsecure demanded the funds were lost in the method.

The company has started a charge with the Cyber Cell in Delhi and is also leading an inquiry with the help of cybersecurity experts. Though, a survey at the police complaint points to an inside job as the company’s director Mohit Kalra stated in the complaint that:someone-stole-3-million-in-bitcoin-from-coinsecure-bitcoin-exchange-2

As the private keys are kept with Dr. Amitabh Saxena, we feel that he is making a false story to divert our attention and he might have a role to play in this entire incident,”The incident reported by Dr. Amitabh Saxena does not seem convincing to us. Dr. Amitabh Saxena also has an Indian passport and he might fly out of the country soon. Therefore, his passport should be seized so he cannot fly out of the country.”
 It is remarkable that Coinsecure conflict has happened days after the Reserve Bank of India (RBI) prohibited banks and financial organizations from bargaining in cryptocurrencies from April 6th, 2018.  

We have decided to ring-fence the RBI regulated entities from the risk of dealing with entities associated with virtual currencies. They are required to stop having a business relationship with the entities dealing with virtual money forthwith and unravel the current relationship within a time of three months,” said BP Kanungo, deputy governor India.

Consequently, in Asia, Vietnam and South Korea have also suffered millions of money worth of fraud and stealing in unusual of the cryptocurrency exchanges. Shortly this year, one of Japan’s cryptocurrency exchanges was hit by a daring $530 million theft of digital money.