Theft on the Coinsecure exchange remains unsolved

Indian company Coinsecure recently informed its website users that it was working with authorities to investigate the theft of 438 bitcoins and asked customers to be patient as the claims settlement process continues. The team's legal department reviews contracts and prepares a grievance form.

Coinsecure asked users to understand that theft of more than $3 million is a serious crime, and this greatly slows down the complaint redressal process, as the company must follow all procedures required by the authorities.  

The company asked users to call or email them only from Monday to Saturday from 11 am to 9 pm.

Representatives of the exchange said that they would reimburse all customer losses. A significant amount of the amount will be paid in Indian rupees if the withdrawn bitcoins cannot be found. A post published earlier this week said that all the funds that users stored in rupees were intact, only 438 bitcoins were stolen from the exchange, and if they could be found, the company would immediately return them to the owners' accounts. 

If the missing cryptocurrency cannot be found, the company will pay 10% of all losses in bitcoins and 90% in rupees at the exchange rate on April 9, 2018. 

Since the close of trading on April 9, when the price of Bitcoin was $6,850, the rate has increased significantly. Coinsecure users could lose more than 18% of their profits from the rising price of Bitcoin if the lost cryptocurrency cannot be found.

The wallet containing all 438,318 Bitcoins was emptied over two dozen transactions that transferred some of the amount to different wallets. 

Recall that the CEO of Coinsecure, Mohit Kalra, accused the head of his company’s security department of stealing these funds.

According to https://www.ccn.com