Customers had bitcoin balance and cash in their coinsecure account. Cash would have come from either a recent sale of bitcoin that they were yet to withdraw to their bank account or from money deposited to buy bitcoin in future.

Coinsecure has mentioned that only bitcoin were stolen and they have not mentioned anything about the cash balance.

Before this theft, users could withdraw the cash without giving any ID verification documents. My question is why users cannot withdraw the cash now in a similar manner without providing ID documents?

For further details, refer to settlement agreement posted by coinsecure.

They are asking for too many documents without mentioning why they need it and for how long they will keep it. They want users to take INR equivalent of their bitcoin holding (with coinsecure) at price of 9th Apr. They want users to waive off any and all future claims, so if after settlement coinsecure is able to recover bitcoin, then they are not liable to give back to users as they have already settled at a rate decided by coinsecure.

Cash balance (fiat) held with bitcoin was not impacted by the alleged theft.

• What is preventing CoinSecure to let customers withdraw the Cash balance as they could before the alleged theft?
• Why is CoinSecure requesting documents if the customer account is already verified?
• What will happen if after CoinSecure settles with all customers, and then "magically" they are able to recover 438 Bitcoins? Will they give option to customers to reverse INR settlement and get Bitcoin back?
• Is there a deadline for customers to settle?