Indian Exchange Coinsecure Prepares Customer Claims Process Following $3.5 mln Theft
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Indian Bitcoin (BTC) exchange Coinsecure says it has started work on the claims process for customer funds lost in the theft of 438 BTC ($3.5 mln) from the exchange’s wallet earlier this month, in an update posted on its website April 21.
The Coinsecure Team said it has been “flooded with calls and emails” regarding disbursement of the stolen funds, but that its legal team was working “tirelessly” with authorities, which was consuming most of its time. It further said that it expects the claims form will soon be ready and that customers will be able to submit their claims requests by next weekend.
The theft, which has affected around 11,000 customers according to local newspaper The Economic Times, allegedly occurred when CSO Amitabh Saxena incorrectly extracted funds from the exchange's cold wallet. Saxena reportedly was online when private keys were extracted, a mistake Coinsecure calls "unacceptable".
The company itself has officially stated …
The Coinsecure Team said it has been “flooded with calls and emails” regarding disbursement of the stolen funds, but that its legal team was working “tirelessly” with authorities, which was consuming most of its time. It further said that it expects the claims form will soon be ready and that customers will be able to submit their claims requests by next weekend.
The theft, which has affected around 11,000 customers according to local newspaper The Economic Times, allegedly occurred when CSO Amitabh Saxena incorrectly extracted funds from the exchange's cold wallet. Saxena reportedly was online when private keys were extracted, a mistake Coinsecure calls "unacceptable".
The company itself has officially stated …