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ID:

coinsecure-779

Date:

Status:

Incident Count:

April 12, 2018

Verified

1

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

35,000,000

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Recovered:

-

Rewards:

Currency:

USD, BTC

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Exchange

Assets

Key Management

Extended Method:

Private key leak, cold wallet

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Days in Operation:

3380

(9.26 Years)

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CoinSecure, an Indian cryptocurrency exchange, lost Bitcoin valuing $3.5 million at the time of the hack. However, it seems like this one was an inside job. The owners of CoinSecure believe their former Chief Security Officer stole the funds. It seems they may have been onto something, as he was later arrested. A failed cold storage restoration exercise seems to have exposed private keys intended for offline storage (effectively making them online). However, the CEO has expressed an insider’s involvement. Police found private keys exposed online for more than 12 hours. Lost of 438 BTC.

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