Major indian exchange gets hacked, 438 bitcoins stolen COINSECURE

[newwest]

Hi guys,

I'm one of the Coinsecure shareholders. I own 2.345% of 10% of Coinsecure shares that were offered to investors in 2017 through BnkToTheFuture.

I'm as frustrated as many of you that the funds have not yet been repaid to the users, but I understand that this things take time, especially while official investigation is underway and a lot of things can't be disclosed.

I just want to say that Coinsecure can also pursue the option to sell more equity. Personally, with assurance from the founders that Coinsecure will again open for business, I'd be willing to increase my current stake at least 5 times. While this is still not a huge amount of money, I'm pretty sure other investors would be interested in this arrangement as well.

However, when I asked this on investors forum, I was told that Coinsecure is not looking to sell more equity and that users will be compensated by directors' personal funds. My offer still stands though should they change their mind.

This could be the real good if the directors are ready to pay from tier pocket but how much will they be able to pay it as the stolen amount runs in 400 btc+ and your idea of selling more equity could be a good plan with things start rolling quickly and people receive their money.

[1713873189]

1713873189

[1713873189]

1713873189

[zuber_amla]

I bet if BTC price goes under 400K INR, they will announce they have recovered lost BTC and refund will be made in BTC.

Hmm,  they've said:

10% in BTC and 90% in INR at rate of 9th April 2018.

So at this point, it does make sense to refund in BTC, but this only if they DO have the bitcoins or the funds to buy new ones. Which I do doubt.

I submitted required documents for refund 19 days ago, I also confirmed via support email that they received documents and it's verified and i was told i will receive fund within 10-15 days, no fund received yet. Finally when i contacted to their phone support and they said that they ran out of funds and waiting for more funds, once they get funds they will process 10-15 transactions per day so i will receive funds after 2-3 weeks.

Is there anybody that has received a refund till now?
I checked 3 threads about coinsecure and there is no proof of a happy ending.

Finally when i contacted to their phone support and they said that they ran out of funds and waiting for more funds

I wonder where those funds can come from....
And more interesting, the exchange is down, right? How are they still making money or how do they plan on doing in the future?

Guyz, BTC under 400K INR now, we have signed refund documents to receive refunds of BTC at price 438K INR per BTC.

I have submitted refund documents long ago no refund is received yet.

Most interesting thing now is, are they gonna still refund BTC balance in INR at 438K INR price or they will change refund policy to refunding in BTC or they come up with new story that lost BTC are recovered?

I am so excited to hear from CoinSecure, they are caught in their own trap now.

In last conversation with CoinSecure Team I was told that they gonna pay refund by check because e-transfer is no more available by bank for them. While all other Indian crypto exchanges send funds in minutes after withdrawal request via IMPS without any issue.

Let's see what next they announce.

[zuber_amla]

Recently received email from CoinSecure as following.

------------------------------------------------------------
Dear Users
 
We are happy to inform you that we have started the process of compensating our customers in Indian Rupees, ex gratia, for the loss of their Bitcoins in the attack that occurred on April 9, 2018. Users will be required to sign an agreement releasing Coinsecure of any future liability and provide certain other documents in order to receive the payment. The Agreement can be downloaded from our website. This agreement will have to be duly signed and delivered to our office along with the documents mentioned in the Agreement before June 30, 2018.
Please note that the last date for submitting claims to us along with all appropriate documents is June 30, 2018. We will not entertain any claims received after June 30, 2018 and we shall have no liability towards any users who try to submit claims after the said date.
 
Thanks
Team Coinsecure
------------------------------------------------------------

LOL, they call it ex gratia payment, their own CSO Mr Amitabh Saxena who made such childish mistake and lost our BTC or maybe scammed, and now when time to payback money to owner of hosted BTC they call it ex gratia payment. They also mentioned other documents to be submitted along with documents submitted earlier for claim of refund before 30 JUNE.

They informed this via email today on 26th JUNE, If they really want more documents from user for refund purpose then users have to submit more documents within 4 days or no refund thereafter, on claims.coinsecure.in there are no other printable agreement documents are available to download besides previous printable refund agreement documents.

I think it's time to drag them to the court and claim full refund plus compensation and all the other costs.

Anyone here has received refund so far?

[carlfebz2]

Recently received email from CoinSecure as following.

------------------------------------------------------------
Dear Users
 
We are happy to inform you that we have started the process of compensating our customers in Indian Rupees, ex gratia, for the loss of their Bitcoins in the attack that occurred on April 9, 2018. Users will be required to sign an agreement releasing Coinsecure of any future liability and provide certain other documents in order to receive the payment. The Agreement can be downloaded from our website. This agreement will have to be duly signed and delivered to our office along with the documents mentioned in the Agreement before June 30, 2018.
Please note that the last date for submitting claims to us along with all appropriate documents is June 30, 2018. We will not entertain any claims received after June 30, 2018 and we shall have no liability towards any users who try to submit claims after the said date.
 
Thanks
Team Coinsecure
------------------------------------------------------------

LOL, they call it ex gratia payment, their own CSO Mr Amitabh Saxena who made such childish mistake and lost our BTC or maybe scammed, and now when time to payback money to owner of hosted BTC they call it ex gratia payment. They also mentioned other documents to be submitted along with documents submitted earlier for claim of refund before 30 JUNE.

They informed this via email today on 26th JUNE, If they really want more documents from user for refund purpose then users have to submit more documents within 4 days or no refund thereafter, on claims.coinsecure.in there are no other printable agreement documents are available to download besides previous printable refund agreement documents.

I think it's time to drag them to the court and claim full refund plus compensation and all the other costs.

Anyone here has received refund so far?

The good thing they do consider on having a reimbursement of compensation for those users who are being affected on those hack but the said due date was too short and we are now June 26,2018 and its 4 days more for the due date to come.
The thing that concerns me into those users who arent based on India or same country and do lost up big amounts of bitcoin then how he would able to make such claim?

[Joel_Jantsen]

I think it's time to drag them to the court and claim full refund plus compensation and all the other costs.
Anyone here has received refund so far?

You can drag Benson's Ass to the court room. Anyway, it isn't going to help. They would have already bribed the cops, cyber crime officials and everyone who opens their mouths against them. You know how it works in India. You can easily get away with Child Rape/Murder/Bank Robbery if you can bribe the cops. This is just a mere 'bitcoin theft', I'm sure Benson would have handled it professionally with Mohit. Only an idiot will continue using them or any other Indian exchanges.

[zuber_amla]

Recently received email from CoinSecure as following.

------------------------------------------------------------
Dear Users
 
We are happy to inform you that we have started the process of compensating our customers in Indian Rupees, ex gratia, for the loss of their Bitcoins in the attack that occurred on April 9, 2018. Users will be required to sign an agreement releasing Coinsecure of any future liability and provide certain other documents in order to receive the payment. The Agreement can be downloaded from our website. This agreement will have to be duly signed and delivered to our office along with the documents mentioned in the Agreement before June 30, 2018.
Please note that the last date for submitting claims to us along with all appropriate documents is June 30, 2018. We will not entertain any claims received after June 30, 2018 and we shall have no liability towards any users who try to submit claims after the said date.
 
Thanks
Team Coinsecure
------------------------------------------------------------

LOL, they call it ex gratia payment, their own CSO Mr Amitabh Saxena who made such childish mistake and lost our BTC or maybe scammed, and now when time to payback money to owner of hosted BTC they call it ex gratia payment. They also mentioned other documents to be submitted along with documents submitted earlier for claim of refund before 30 JUNE.

They informed this via email today on 26th JUNE, If they really want more documents from user for refund purpose then users have to submit more documents within 4 days or no refund thereafter, on claims.coinsecure.in there are no other printable agreement documents are available to download besides previous printable refund agreement documents.

I think it's time to drag them to the court and claim full refund plus compensation and all the other costs.

Anyone here has received refund so far?

I think it's time to drag them to the court and claim full refund plus compensation and all the other costs.
Anyone here has received refund so far?

You can drag Benson's Ass to the court room. Anyway, it isn't going to help. They would have already bribed the cops, cyber crime officials and everyone who opens their mouths against them. You know how it works in India. You can easily get away with Child Rape/Murder/Bank Robbery if you can bribe the cops. This is just a mere 'bitcoin theft', I'm sure Benson would have handled it professionally with Mohit. Only an idiot will continue using them or any other Indian exchanges.

Spoke to CoinSecure support executive over the phone call regarding refund. I was told that there is no need of submitting of additional documents if previously mentioned refund agreement documents are submitted. I was told it will take about 30 days to get refunds, they will deposit checks to users bank accounts to the users who have submitted self attested refund agreement documents before deadline.

I also asked about re-start of this exchange after refunds done, and he said they are not certain about restart of this exchange and it also relies on supreme court and RBI decision about Bitcoin/Altcoin on 6 JUL 2018.

As we can see other crypto exchanges are running and payments via banks are being smoothly without any issues. Also the major countries like USA, CAN, UK, FRA, AUS, NZL, JPN, RUS and others has accepted Bitcoin as legal tender or commodity, some countries like RSA, MAL, BRAZIL etc looking forward to legalize Bitcoin into their countries and the other fact is that Bitcoin/Altcoin networks are impossible to terminate, it's just matter of p2p file transfer, so banning of BTC/ALT is useless and perhaps that is the reason above countries legalized cryptos with certain rules to regulate it and taxation on it. Country bans BTC/ALT is likely to go behind in economical race because crypto markets are turned so huge and it may impact on country's economy if banned. Like China banned cryptos in their country and all crypto exchanges and crypto giants fled outside of china and re-established their business.

If cryptos are banned in India, only small investors like us will have problems, exchanges and giants will make their way outside India.

This is a beginning of Digital Era, crypto lovers might face issues currently but sooner or later cryptos will be full flagged worldwide.

CoinSecure users have to wait more to get their money back, hope refunds are made soon.

I was also told by support that over 200 refunds are done already, anyone here got refund?

[Rotten Egg]

Tracing down the coins from Co-Insecure hack - https://bitcointalk.org/index.php?topic=5204728.0

[sardasaAccountHacked]

Recently received email from CoinSecure as following.

------------------------------------------------------------
Dear Users
 
We are happy to inform you that we have started the process of compensating our customers in Indian Rupees, ex gratia, for the loss of their Bitcoins in the attack that occurred on April 9, 2018. Users will be required to sign an agreement releasing Coinsecure of any future liability and provide certain other documents in order to receive the payment. The Agreement can be downloaded from our website. This agreement will have to be duly signed and delivered to our office along with the documents mentioned in the Agreement before June 30, 2018.
Please note that the last date for submitting claims to us along with all appropriate documents is June 30, 2018. We will not entertain any claims received after June 30, 2018 and we shall have no liability towards any users who try to submit claims after the said date.
 
Thanks
Team Coinsecure
------------------------------------------------------------

LOL, they call it ex gratia payment, their own CSO Mr Amitabh Saxena who made such childish mistake and lost our BTC or maybe scammed, and now when time to payback money to owner of hosted BTC they call it ex gratia payment. They also mentioned other documents to be submitted along with documents submitted earlier for claim of refund before 30 JUNE.

They informed this via email today on 26th JUNE, If they really want more documents from user for refund purpose then users have to submit more documents within 4 days or no refund thereafter, on claims.coinsecure.in there are no other printable agreement documents are available to download besides previous printable refund agreement documents.

I think it's time to drag them to the court and claim full refund plus compensation and all the other costs.

Anyone here has received refund so far?

I think it's time to drag them to the court and claim full refund plus compensation and all the other costs.
Anyone here has received refund so far?

You can drag Benson's Ass to the court room. Anyway, it isn't going to help. They would have already bribed the cops, cyber crime officials and everyone who opens their mouths against them. You know how it works in India. You can easily get away with Child Rape/Murder/Bank Robbery if you can bribe the cops. This is just a mere 'bitcoin theft', I'm sure Benson would have handled it professionally with Mohit. Only an idiot will continue using them or any other Indian exchanges.

Spoke to CoinSecure support executive over the phone call regarding refund. I was told that there is no need of submitting of additional documents if previously mentioned refund agreement documents are submitted. I was told it will take about 30 days to get refunds, they will deposit checks to users bank accounts to the users who have submitted self attested refund agreement documents before deadline.

I also asked about re-start of this exchange after refunds done, and he said they are not certain about restart of this exchange and it also relies on supreme court and RBI decision about Bitcoin/Altcoin on 6 JUL 2018.

As we can see other crypto exchanges are running and payments via banks are being smoothly without any issues. Also the major countries like USA, CAN, UK, FRA, AUS, NZL, JPN, RUS and others has accepted Bitcoin as legal tender or commodity, some countries like RSA, MAL, BRAZIL etc looking forward to legalize Bitcoin into their countries and the other fact is that Bitcoin/Altcoin networks are impossible to terminate, it's just matter of p2p file transfer, so banning of BTC/ALT is useless and perhaps that is the reason above countries legalized cryptos with certain rules to regulate it and taxation on it. Country bans BTC/ALT is likely to go behind in economical race because crypto markets are turned so huge and it may impact on country's economy if banned. Like China banned cryptos in their country and all crypto exchanges and crypto giants fled outside of china and re-established their business.

If cryptos are banned in India, only small investors like us will have problems, exchanges and giants will make their way outside India.

This is a beginning of Digital Era, crypto lovers might face issues currently but sooner or later cryptos will be full flagged worldwide.

CoinSecure users have to wait more to get their money back, hope refunds are made soon.

I was also told by support that over 200 refunds are done already, anyone here got refund?

Did u finally get your refund? Did anyone else got their refund?
What happened with investigations? Was anyone arrested or held liable by police for the hack?