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438 Bitcoins worth Rs. 19 Crore (190 Million Rupees) have been stolen from Indian cryptocurrency exchange Coinsecure – it was one of the leading names when it comes to cryptocurrency exchanges in India. The exchange has put out an official notice on their website which details the incident. Coinsecure states that their systems were neither hacked nor compromised. 

The Coinsecure website claims that since the funds have been siphoned off to another wallet address, it is beyond their control now. The company has filed an FIR with the Cyber Crime Department of Delhi and have uploaded a copy of the FIR on their website. Investigations have already begun on the case. 

The FIR filed by Coinsecure provides more details on what went down. As per the FIR filed by the company, only two people have access to the keys to their Bitcoin wallet, the CSO Amitabh Saxena and the CEO Mohit Kalra. The company claims that on the 9th of April, their CSO contacted them stating that the funds have been stolen due to an attack. 

Coinsecure’s FIR states that the explanation that they got from Mr. Saxena does not seem appropriate and they have a suspicion that he may be behind this incident. The FIR states that Amitabh Saxena may have made up this story to keep his name clear. The company has also informed the cyber cell that Mr. Saxena holds and Indian passport and may abscond.

Coinsecure has also sent out e-mails to their users apologizing for this incident and have asked for their support. The company states that regardless of these Bitcoins being recovered, they will be indemnified for their loss. However, no timelines have been specified. 

New Delhi based Coinsecure was one of the trusted names in the Indian cryptocurrency markets. Thousands of users were actively trading Bitcoins using the platform and they were even working on adding multi-coin support. The exchange recently launched applications for Android and iOS operating systems. However, following this incident, the future of Coinsecure hangs in the balance. Stay tuned with us for more updates on the story as it develops. 

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