Indian Police To File A Lawsuit Concerning Coinsecure Wallet Hack Of $2.7 Million


After a considerable period of inactivity, the Coinsecure hacking incident will finally be presented in court. Before the hack in April, Coinsecure was a leading digital currency trading platform. Now that it has been established that the alleged theft was spread across several cryptocurrency exchanges globally, New Delhi law enforcers are ready to file a case on this matter.

Anyesh Roy, a New Delhi police officer, revealed that the force hard already contacted a number of the exchange platforms from where the Bitcoins were routed. At first, the exchanges were hesitant to give information, but after reaching a mutual agreement, they became cooperative.

Earlier this year, Coinsecure, a prominent digital asset trading platform in India, proclaimed that its offline wallet had be emptied by hackers. The thieves made away with over 400 BTC, which is valued at $2.77 million at current exchange rates. Later on, it was discovered that the platform became exposed after its offline wallet private keys were leaked online. After establishing that this crime was international, the Indian police sought the assistance of Interpol to track down the stolen virtual currencies.

As mentioned above, it took the signing of a mutual legal assistance treaty for certain exchanges to start talking to the police. Such agreements are typically used to obtain evidence for criminal prosecution, and usually involves two countries. So far, the law enforcers have found the stolen Bitcoin in five unnamed digital trading platforms.

Notably, Coinsecure openly laid the blame on their security officer when reporting the hacking incident. Precisely, the company accused Amitabh Saxena of possible foul play, since he was the custodian entrusted with wallet’s private keys. However, it is not yet confirmed if Saxena will also be charged during the upcoming lawsuit.

Moving away form the cases, the process of refunding clients whose Bitcoin was stolen is currently ongoing. In a related press release, Coinsecure requested its clients to submit their claims by the June 30, 2018. The statement also required customers to support their claim with relevant documents and to adhere by the set deadline. Reportedly, Coinsecure has already repaid $2 million worth of Bitcoin.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide