Bitcoin coinsecure

Elizabeth Ploshay McCauley — She has been a well-respected evangelist for the digital currency over the course of several years. A positive and open-minded approach to Bitcoin has landed her opportunities to work with prominent industry members, such as the BitGive Foundation, Bitcoin Foundation, and Bitpay, to name a few.

We have been in development mode over the past few months and thanks to a stellar team, we have a secure, fast and easy Exchange in place. We had earlier launched coinsecure. It will be the sole currency and not valued by the fiat. How it happened? Almost like offering the password to your bank account in a platter to a hacker.

It was on April 9, that Saxena informed others at the exchange that all the bitcoins that were stored offline had vanished. It is still unclear why the private key -- password that is kept by the company and stored offline — were leaked online, leading to the hack. Is the money being traced? Coinsecure with over two lakh users across the country, has currently stopped all deposits and withdrawals.

The company says it has the digital address of where the assets were sent after the hack. It has shared the wallet address to which the odd bitcoins were transferred to on their website. The stolen amount of Now, the hacker seems to be sending the stolen bitcoins to multiple addresses.

Now, the amount left from the stolen wallet is This essentially means only Rs 7. Interestingly, the wallet address to which the initial amount of bitcoins was transferred to was created on the day of the hack and not an old account that had already been around for sometime. These developments come in the backdrop of a crackdown on cryptocurrencies in India.

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Director Mohit Kalra has sent a letter to Indian authorities about the incident. In the document posted on the company's website, Kalra said that Users' funds were kept in a secure bitcoin wallet and the private keys were kept by Saxena and Kalra. Private keys are essentially required to send cryptocurrency out of a storage wallet.

Having the private key allows you to move money. Dr Amitabh Saxena also has an Indian passport and he might fly out of the country soon. Therefore, his passport should be seized so he cannot fly out of the country. There has been no response as of yet. Coinsecure said it is trying to recover the lost funds, but it will reimburse customers from the company's personal funds. CNBC has reached out to the company to ask when this process might begin and has yet to receive a response. CNBC also asked if the company has had contact with Saxena, but a spokesperson pointed to the statement on Coinsecure's website.

For strong security, Coinsecure ensures multiple validations at every point so that user can be sure of the traders who join the Coinsecure community. The minimum amount required to buy Bitcoin is 0. For payments, Coinsecure has tie up with three major banks i. Coinsecure Application Coinsecure has also launched its mobile application. The application is compatible on both Android and iOS based device. The mobile interface aims to give a delightful trading experience to its users by making it simple and easy to understand.

There are multiple features on Coinsecure to assist the enthusiast with trading. Trade execution such as buying and selling of Bitcoins would be based on order books. User can set a pin for security reasons.

There is also a feature of navigating through previous transaction history. As far as the deposits and withdrawals are concerned, they occur in Indian rupee. The payments or any transaction through mobile application is fast and instant. How to register a new account on Coinsecure? In order to register a new account on Coinsecure, log on to.

Enter all the details required such as username, email ID and password. A verification link goes to the email ID, which is essential for account confirmation. User will also have to complete the KYC before buying Bitcoins. Thus, Coinsecure offers a secure and trustworthy platform for trading and exchange of Bitcoins to the entire crypto currency enthusiast.

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Both are embedded at the bottom of this article. Coinsecure CEO points the finger at exchange's CSO "Our system itself has never been compromised or hacked, and the current issue points towards losses caused during an exercise to extract BTG [Bitcoin Gold] to distribute to our customers, " the Coinsecure team wrote in its statement. Amitabh Saxena, was extracting BTG and he claims that funds have been lost in the process during the extraction of the private keys," Coinsecure added.

According to the police complaint, Dr. Saxena informed Coinsecure that the funds "were stolen from [the] company's Bitcoin wallet due to some attack. Saxena had private keys to the exchange's main wallet.

Jump to: navigation , search Coinsecure is a Bitcoin exchange based in India. Bitcoin startup is founded by Benson Samuel and Mohit Kalra, Coinsecure has been actively working on enabling Indian users with Bitcoin technology.

He is the Moderator of the India Bitcoin Forum. Mohit Kalra — Delhi based industrialist, very well connected with the core development team of Bitcoin like Jeff Garzik. Elizabeth Ploshay McCauley — She has been a well-respected evangelist for the digital currency over the course of several years.