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December 15, 2018

Bitcoins for millions of dollars stolen from trading platform Coinsecure

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bitcoinThe Indian cryptocurrency trading platform Coinsecure announced that 3 million USD of its digital portfolio of consumer assets has been stolen. From the information, it is clear that a high-ranking employee of the company was involved in the theft. Coinsecure explained that their system was not hacked, but the company apologized to its clients for failing to prevent abuse.

In a letter posted on the company’s website and addressed to the New Delhi police, Coinsecure Chief Executive Officer Mohit Calra accused Amitab Saksen, Strategic Director, of having a “role in theft” without giving further details. Both were the only owners of private keys to the company’s portfolio.

The incident is happening in an uncertain period of battle against attempts to introduce a number of regulations on the most popular cryptocurrency.

The platforms trading with cryptocurrencies often become targets for cyber-attacks. Since the beginning of the year, hackers have stolen 700 million USD digital money from exchanges in Japan and Italy. The thefts forced exchanges and regulators to take more measures to protect investors.

The most scandalous case has so far been the theft of 460 million USD from the Japanese Mt. Gox in 2014.

The cryptocurrency exchanges are an appealing target for hackers. Because they keep a history, transactions in Bitcoins and other cryptocurrencies can not be erased, which means that when a hacker can transfer an asset from an online portfolio elsewhere, it is very difficult to get back.

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