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Indian Coinsecure claims an insider job in a $ 3 million Bitcoin robbery

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The exchange of Indian bitcoins Coinsecure revealed a theft of 438 bitcoins, valued at approx. $ 3.4 million at the time of publication, from its portfolio to what is the country's largest cryptocurrency flight to date.

Cryptocurrency Exchange in Delhi Coinsecure accused its own CSO of stealing parts of the company's portfolio in a FIR (First Information Report) filed with the police on Thursday. In an announcement on its homepage, the exchange said some of its bitcoin funds had been "exposed" and "appeared to have been siphoned off to an address" that is beyond its own control.

Coinsecure insists that its own systems have not been compromised or pirated. Instead, the exchange underscores the unconvincing contention of its CSO, Amitabh Saxena, who argues that theft occurred during a "separate BTG extraction exercise" (Bitcoin Gold) "to distribute among its customers.

Coinsecure wrote:

Our CSO, Dr. Amitabh Saxena, was extracting BTG and claims that funds were lost in the process during the extraction of private keys.

According to the police complaint (pinned below), Coinsecure CEO Mohit Kalra, who holds the private keys of the company's portfolios with the CSO wrote: "On 9 ] April 2018, we were informed by our CSO, Dr. Amitabh Saxena, that 438,318 bitcoins (worth about 19 Crores INR – about) were stolen from our company's Bitcoin wallet because of an attack. "

Notably, he added in the complaint:

As the private keys are kept with Dr. Amitabh Saxena, we think he's making a false story to divert our attention and that he could have a role to play in this whole incident . The incident reported by Dr. Amitabh Saxena does not seem convincing to us.

In a separate statement to the Times of India, the director revealed that private keys were exported online. "It sounds like an intentional crime," he added. "We shared our suspicions with the Cyber ​​Cell and contacted specialists to find the source of the hack and trace the bitcoins."

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Coinsecure recruited Saxena as Chief Scientific Officer in September 2017, citing credentials as a computer science teacher in Australia and previous assignments at Hewlett Packard (HP) and Accenture. "Doc comes with an extremely strong understanding of cryptographic space and has a lot of ideas and implementations that it will bring to Coinsecure," said the exchange at the C & # 39; time, indicating his scientific research articles on blockchain space.

In his complaint, the CEO Kalra also pointed out that the CSO could be a risk of theft, asking the police to seize his passport to prevent him from flying out of the country .

Meanwhile, Coinsecure insists that it will recover and reimburse customers who have seen their funds stolen.

The exchange says:

Regardless of the funds recovered, we reassure all our clients that you will be compensated for our personal funds.

Coinsecure FIR Bitcoin Theft by CCN on Scribd

Image from Shutterstock.

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