Amount Stolen:: $3,500,000 (438.318 BTC)
Date:: April 12th, 2018
Tags:: India, "Inside Job"
In what may be the biggest virtual currency exchange heist in India to date, 438 BTC, currently worth $3.5 million, have gone missing from Coinsecure, and the exchange thinks an employee has run off with the money
According to a statement on the company’s website, the funds were lost as a result of the exposure of private keys by the company’s chief security officer Dr. Amitabh Saxena in an attempt to distribute bitcoin gold (BTG) to customers.
The private key of the hot storage was compromised and was released online. Since all data log has been removed from the system, the root cause of the hacking was not identified. CSO of the exchange allegedly claimed that the theft was due to the cyberattack. However, CEO of the exchange blamed the CSO for the incident, since he was the only person who managed the private key.
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Primary Theft Address: 1BaEJquitskdXcTj53Uy6PuUtJ5a8ETWpA
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Mixes with NiceHash stolen funds pretty quickly
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Outputs to 1FVWPssjKvK72woYrQJ4jYfLXvkzTEjubC (Sim)
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also Outputs to 1GX4hZu2iQkoTE5XRLevbPCuFDVj9uZUUL (Sim)
- https://coinsecure.in/
- https://cryptoxdirectory.com/coinsecure
- https://financemagnates.com/cryptocurrency/news/indian-bitcoin-exchangecoinsecure-claims-%E2%80%8E3-5-million-%E2%80%8Elost-insider-hack/
- https://zdnet.com/article/coinsecure-not-so-secure-millions-in-cryptocurrencystolen-cso-branded-as-thief/
- https://quadrigainitiative.com/casestudy/coinsecureexchangehack.php
- https://cointelegraph.com/news/indian-crypto-exchange-reports-loss-of-35-mln-in-btc-blames-exec