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wheelz1200
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April 13, 2018, 12:57:48 PM Last edit: April 13, 2018, 10:20:18 PM by wheelz1200 |
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Any exchange "hack" is another chink in the growth of btc... And i still know people that use exchanges as wallets, crazy. Kind of an ironic name for the exchange now eh. ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif)
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Patatas
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April 13, 2018, 01:06:19 PM |
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This is a serious case and we need answers !Coinsecure is run by the moderator of the Indian Board on Bitcointalk : Benson SamuelLot of Indian twats had their accounts on the exchange and was the only source of crypto storage for them.I don't know the stats yet but soon I shall find out . This isn't going to turn out good for Indian crypto market.Watching this thread.
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theymos
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April 13, 2018, 07:21:34 PM |
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Note that I removed Benson Samuel as moderator, but only because I view the situation as potentially too much of a conflict of interest. I have no reason to doubt Benson Samuel's character.
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1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
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botany
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April 14, 2018, 11:49:35 AM |
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Note that I removed Benson Samuel as moderator, but only because I view the situation as potentially too much of a conflict of interest. I have no reason to doubt Benson Samuel's character.
He probably has his hands full, trying to make sure that the liabilities of the exchange are settled and it is back up and running. I also do not believe that he would censor criticism (if any) of the exchange.
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edgycorner (OP)
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April 14, 2018, 12:53:41 PM |
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Note that I removed Benson Samuel as moderator, but only because I view the situation as potentially too much of a conflict of interest. I have no reason to doubt Benson Samuel's character.
He probably has his hands full, trying to make sure that the liabilities of the exchange are settled and it is back up and running. I also do not believe that he would censor criticism (if any) of the exchange. Pretty sure he wasn't removed from his mod position just for that reason. We can't be sure whether he was involved or not.What if it was all planned?Until they pay back bitcoins too or the hacker is caught, I won't trust them. According to the new update, they are only going to let user's withdraw their fiat funds(which was already safe, according to them).
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eaLiTy
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April 14, 2018, 03:12:18 PM |
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Note that I removed Benson Samuel as moderator, but only because I view the situation as potentially too much of a conflict of interest. I have no reason to doubt Benson Samuel's character.
The private keys were held by CSO Amitabh Saxena and the company has filed a case against him, his response to the way in which the funds are hacked are just flimsy and i do not think Benson has anything to do with the loss and the company has ensured that they will be crediting its users, it is a really unfortunate situation and with him being removed as the moderator i hope the local board wont be a junkyard.
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allahabadi
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April 14, 2018, 03:34:56 PM |
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I think we need a DT to paint him, unless he proves it otherwise. Note that I removed Benson Samuel as moderator, but only because I view the situation as potentially too much of a conflict of interest. I have no reason to doubt Benson Samuel's character.
The private keys were held by CSO Amitabh Saxena and the company has filed a case against him[1], his response to the way in which the funds are hacked are just flimsy and i do not think Benson has anything to do with the loss[2] and the company has ensured that they will be crediting[3] its users, it is a really unfortunate situation and with him being removed as the moderator i hope the local board wont be a junkyard[4]. [1] This is the version of the CEO; we haven't heard from Amitabh Saxena yet. [2] Speculation, it's as good as saying that I believe that even he is complicit. [3] It's their stated intention; not ensured or guaranteed in any manner. Unless they do so; I have my doubts. Also they just made a strong case against the growth of BTC in a suspicious environment. This is definitely a dent in the mass adoption of cryptos in India. [4] It already is.
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zuber_amla
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April 14, 2018, 05:30:58 PM Last edit: April 14, 2018, 06:32:44 PM by zuber_amla |
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Note that I removed Benson Samuel as moderator, but only because I view the situation as potentially too much of a conflict of interest. I have no reason to doubt Benson Samuel's character.
The private keys were held by CSO Amitabh Saxena and the company has filed a case against him, his response to the way in which the funds are hacked are just flimsy and i do not think Benson has anything to do with the loss and the company has ensured that they will be crediting its users, it is a really unfortunate situation and with him being removed as the moderator i hope the local board wont be a junkyard. Coinsecure has mentioned that if lost funds found they will refund BTC to users, if lost BTC not found they will refund balance 10% in BTC and 90% in INR at price as of 9th Apr 2018. Also check https://bitcointalk.org/index.php?topic=3310833.msg34668530#msg34668530Looks like inside job.
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DynoEarl
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April 15, 2018, 11:37:36 AM |
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Note that I removed Benson Samuel as moderator, but only because I view the situation as potentially too much of a conflict of interest. I have no reason to doubt Benson Samuel's character.
The private keys were held by CSO Amitabh Saxena and the company has filed a case against him, his response to the way in which the funds are hacked are just flimsy and i do not think Benson has anything to do with the loss and the company has ensured that they will be crediting its users, it is a really unfortunate situation and with him being removed as the moderator i hope the local board wont be a junkyard. Coinsecure has mentioned that if lost funds found they will refund BTC to users, if lost BTC not found they will refund balance 10% in BTC and 90% in INR at price as of 9th Apr 2018. Also check https://bitcointalk.org/index.php?topic=3310833.msg34668530#msg34668530Looks like inside job. Where have they mentioned what you said? I dont think they have explicitly mentioned that anywhere
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zuber_amla
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April 15, 2018, 12:58:49 PM |
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Note that I removed Benson Samuel as moderator, but only because I view the situation as potentially too much of a conflict of interest. I have no reason to doubt Benson Samuel's character.
The private keys were held by CSO Amitabh Saxena and the company has filed a case against him, his response to the way in which the funds are hacked are just flimsy and i do not think Benson has anything to do with the loss and the company has ensured that they will be crediting its users, it is a really unfortunate situation and with him being removed as the moderator i hope the local board wont be a junkyard. Coinsecure has mentioned that if lost funds found they will refund BTC to users, if lost BTC not found they will refund balance 10% in BTC and 90% in INR at price as of 9th Apr 2018. Also check https://bitcointalk.org/index.php?topic=3310833.msg34668530#msg34668530Looks like inside job. Where have they mentioned what you said? I dont think they have explicitly mentioned that anywhere https://coinsecure.in/ Update 3.1: Saturday, 14.4.2018, 6th paragraph on page. "However, if recovery of siphoned BTC is not possible, then we will apply lock in rates as of 9th of April, 2018. 10% of Coin Holding Balance will be refunded in BTC and 90% will be returned in INR." It means if you have 1 BTC with coinsecure and if they failed to recover siphoned BTC funds, they will refund you 0.1BTC and 0.9BTC will be calculated at rate of 9th April 2018 and refund in INR = (0.9 x ~400000 = ~360000INR). It would be a big loss to coinsecure users if BTC price goes up. They have capped BTC price as of 9th April for refund in case siphoned funds not recovered.All coinsecure users should write to coinsecure that we want all our BTC balances refunded in BTC not in INR at price of 9th April 2018. This is looks like inside job to steal people money, BTC funds siphoned to address '1BaEJquitskdXcTj53Uy6PuUtJ5a8ETWpA' were being sent to other addresses till 13th April, after then no BTC sent out of that address. There is still 139.42094629 BTC balance showing in wallet address '1BaEJquitskdXcTj53Uy6PuUtJ5a8ETWpA' check here https://blockchain.info/address/1BaEJquitskdXcTj53Uy6PuUtJ5a8ETWpA . For BTG fork only needed private keys of wallets had BTC at the time of fork, there was no necessity to keep BTC in the wallet and insert private keys for fork coins, Why Dr Amitabh Saxena did not withdraw BTC to another wallet for safety before inserting private keys for BTG fork? Why BTC withdrawals stopped from hacker wallet address '1BaEJquitskdXcTj53Uy6PuUtJ5a8ETWpA' after 13 April 2018? I have contacted Coinsecure support via phone call and sent an email to support@coinsecure.in with my search report that shows clearly where lost funds are going to, most of lost BTC sent to BitcoinFog wallet addresses, P2SH addresses (starts with '3') and Bech32 (starts with 'bc1'), BitcoinFog using tor network so difficult to identify user but user can be traced if investigated deeply, even hacker can be tracked by monitoring end wallet address user is using reputed web wallet or BTC exchange. This is possibly inside job or lack of knowledge to get BTG fork free coins caused this. Whatever it caused we CoinSecure users should demand refund of our BTC balance in BTC not in INR at the rate of 9th April 2018.
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Real14Hero
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April 15, 2018, 03:41:28 PM |
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It would be a big loss to coinsecure users if BTC price goes up. They have capped BTC price as of 9th April for refund in case siphoned funds not recovered.
Yup, it will be and the price is indeed going up.It was 6700$ on 9th and today it reached 8500. A huge difference of 1800$. If it was all planned then yea, they will easily make a lot of profit by doing this.And they will save their name too. Yup, sounds pretty stupid to claim BTG from an active address.And that too 438 bitcoins.Sounds like a pretty bad excuse.or might be pure dumbness.No idea.
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Lauda
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April 15, 2018, 05:59:19 PM Merited by bill gator (1) |
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-snip- Sounds like a pretty bad excuse.or might be pure dumbness.No idea.
Don't be so sure that it isn't outright incompetence/ignorance. You have absolutely no idea how inefficient and insecure the setups are, even of the top exchanges such as Coinbase. This is especially the case with exchanges that list half-centralized and bloated chains such as ETH (generating several million deposit addresses using Core is relatively easy, ETH you can't even sync without fast-sync within reasonable time let alone do something else). Yup, sounds pretty stupid to claim BTG from an active address.
That should be a common sense thing, but it ain't. Plenty of people did it that way.
As you can see hacker sent all funds to above BTC address then from 2018-04-11 06:00:56 he/she started sending BTC funds to P2SH BTC (Pay to Script Hash addresses are more secure in many ways) addresses and regular BTC addresses starting with letter '1' also.
When you got your degree for 5 bucks in some dodgy alley. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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zuber_amla
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April 15, 2018, 06:24:48 PM Last edit: April 16, 2018, 11:34:19 AM by zuber_amla |
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Dr. Amitabh Saxena was appointed as Coinsecure CSO in Sept, 2017. Dr. Amitabh Saxena has immense experience including a stint as a professor of Computer Science in Australia for several years. He has also worked with giants such as Hewlett Packard and Accenture. https://www.cryptoninjas.net/2017/09/24/dr-amitabh-saxena-appointed-c-s-o-bitcoin-exchange-coinsecure/. How is it possible that such experienced person can make mistake like this while dealing with 438.31BTC which is worth about $3.8million? 9th April, 2018 - Coinsecure update on webpage says 438.31859715 BTC siphoned out to BTC Address 1BaEJquitskdXcTj53Uy6PuUtJ5a8ETWpA between 12:35 AM IST - 06:29 AM IST. In fact 438.31859715 BTC was moved to above mentioned address between 2018-04-08 19:05:07 - 2018-04-09 00:40:50, please verify here https://blockchain.info/address/1BaEJquitskdXcTj53Uy6PuUtJ5a8ETWpA . Some of Coinsecure's lost BTC funds are currently in addresses below. 1BaEJquitskdXcTj53Uy6PuUtJ5a8ETWpA 139.42094629 BTC 1EL6w4XM7MVXJocdKbUprQszDkV87EQHeZ 9.44412409 BTC 3QmzSdCoPNQqpFmyyDFpMqWiTdLFrvLXfx 1.10477778 BTC 38GGuZBJD23uav4o2Urzqo3ZNkKUjr5xx3 12.49789000 BTC 19984XPvZux8bEdW4SBPmknevWZauamCnG 65.17902000 BTC 38RKQE1Mx9cmhB5j1xbMhmJLudANouWD5C 6.62085686 BTC Coinsecure update-2 Friday, 13.04.2018 stating BTC funds siphoned, complaint reported to cyber cell Delhi and they are working with invetigation authorities. No BTC funds are transfered out of address 1BaEJquitskdXcTj53Uy6PuUtJ5a8ETWpA after 2018-04-13 08:46:22. Why Coinsecure don't updates more details about exactly what happened? Was this happened before insertion of private key or after insertion? What wallet was used for BTG fork coins? Update 16-04-2018:- Today 139.42094629 BTC also moved out from 1BaEJquitskdXcTj53Uy6PuUtJ5a8ETWpA to P2SH Bitcoin addresses. Above address 1BaEJquitskdXcTj53Uy6PuUtJ5a8ETWpA balance shows 0 BTC now.
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botany
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April 16, 2018, 06:56:05 AM |
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https://coinsecure.in/ Update 3.1: Saturday, 14.4.2018, 6th paragraph on page. "However, if recovery of siphoned BTC is not possible, then we will apply lock in rates as of 9th of April, 2018. 10% of Coin Holding Balance will be refunded in BTC and 90% will be returned in INR." This is really an unfair move on the part of Coinsecure. If the exchange goes bust, then people might be happy to get back some money, in whatever form. If it continues operations, then the customers should be refunded fully. You cannot have a situation where the promoters make money and the customers absorb a portion of the loss.
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legendster
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April 16, 2018, 11:49:05 AM |
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Note that I removed Benson Samuel as moderator, but only because I view the situation as potentially too much of a conflict of interest. I have no reason to doubt Benson Samuel's character.
Pretty sure he wasn't removed from his mod position just for that reason. We can't be sure whether he was involved or not.What if it was all planned?Until they pay back bitcoins too or the hacker is caught, I won't trust them. According to the new update, they are only going to let user's withdraw their fiat funds(which was already safe, according to them). The person who removed him from charge himself said he was removed because of conflict of interest. You want to question that statement? Also, anyone who's known Benson knows what kind of a man he is, he is as square as they come and it's not only me but many in the Indian community feel that way about him, because he has helped nurture the community into what it is today.
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zuber_amla
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April 16, 2018, 11:51:54 AM |
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This is confirmed inside job and whole Coinsecure Team is seems involved in it. And they reading this thread too.
In my preivious post in this thread i stated BTC addresses where stolen funds are lying and today they moved BTC funds to other P2SH wallets.
This clears that this job is done by CoinSecure member or entire team. If it was a hacker from outside he/she would never try to send BTC out of those addresses i mentioned above.
They never transferred out any BTC from address 1BaEJquitskdXcTj53Uy6PuUtJ5a8ETWpA after 13-04-2018, but today they transferred all 139+ BTC out to P2SH wallet address.
Hacker is insider and reading this forum as well, i think.
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legendster
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April 16, 2018, 12:03:59 PM |
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This is confirmed inside job and whole Coinsecure Team is seems involved in it. And they reading this thread too.
In my preivious post in this thread i stated BTC addresses where stolen funds are lying and today they moved BTC funds to other P2SH wallets....
So by that definition, anyone who is reading this post works for Coinsecure? Or do you imply that the hackers don't have access to this forum? And you really think that a group of people who were conniving enough to syphon 430+ btc would be spending their time reading your posts? They probably had this planned all along. It is definitely an inside job, I just can't believe that the entire team is involved. Definitely not Benson. And rest assured, he himself has enough coins to refund this 430+ BTC in its entirety. But that's his personal asset, I am not sure if he'll fund this refund out of his own pocket just because he's the co-founder. Or maybe he should, not only him, but all the founding members should pitch in to refund the customers.
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zuber_amla
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April 16, 2018, 04:40:51 PM |
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Who can believe that a computer scientist with over 20 years of experience, worked for computer giant like 'hp' can expose private keys of 438+ BTC for fork coins without moving BTC funds to other wallets? Does Mr Benson believe this? There was no necessity to insert private keys of active BTC wallet for BTG fork, even if it was necessary to insert private key of active wallet for fork coins, a cryptonoob would also start with small amount at first. I am not crypto expert nor computer geek, still this story is unacceptable to me.
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Termin4tor
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April 16, 2018, 04:43:55 PM |
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The good news is that they are atleast going to refund the money in rupees which I suppose would be a great relief for their customers. They are also giving a bounty of 10% of the hacked funds, if someone is able to recover the hacker money. Hope the police are doing a deep background check on the employees and the owners of this company to identify who stole the money.
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