Coinsecure Offers Rs. 2 crore reward to Recover the Hacked Bitcoins


Today the Cryptocurrency exchange coinsecure announced a bounty of Rs. 2 Crore to the community who can help them to recover the stolen bitcoins.

According to reports, On 8th April the popular Indian crypto exchange called coinsecure was hacked and a certain number of bitcoins were stolen and transferred to an outside wallet. Currently, the exchange has around 2 lakh customers across india. The hackers have stolen 438.31859715 bitcoins that worth Rs 20 crore. And It affected around 11,000 users on the platform.

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The company stored all of the bitcoins on their own offline cold wallets. And reportedly the private key of the wallets was exposed online, that leads to this major theft. Coinsecure claims someone from the company is involved in this incident. After the breach, the site has shut down since the time as the company’s servers have been seized to ascertain the extent of the lost bitcoins.

Coinsecure is working round o clock to recover all the lost funds. During the hack, all the data logs of the hacked wallet’s transactions have been erased. But still, coinsecure was able to trace the wallet in which the stolen bitcoins were moved to. The exchange also mentioned the wallet addresses (1BaEJquitskdXcTj53UyPuUtJ5a8ETWpA) where to lost coins were sent.

Today coinsecure released another statement on this issue noting – “We’d like to inform you that your INR Funds are safe with coinsecure. We will be updating our servers over the next week on how the withdrawal can be requested and processed.”

“We’re also seeking help from the Bitcoin community and all our users who can help us identify the hackers or give us any information that could lead us to recover funds.”

“We are happy to issue a bounty of 10% to the community for help rendered for recovery of BTC” – The official statement added.

Also, the company re-assured their customer to refund the amount of hacked bitcoins from their own fund to users. As per sources, Coinsecure will announce the refund process within next 5-10 days.