- Coinsecure announced Friday that over 438 bitcoins have been stolen
- The exchange announced 10% as bounty to someone who helps recover
- Coinsecure has filed an FIR with the cyber cell of Delhi Police
Coinsecure, on Friday, said that around 438 bitcoins, which were stored in a password-protected virtual wallet were siphoned off to an unknown destination on the internet after the details were leaked online.
The bitcoins that have been compromised are 438.31859715 in number.
Though coinsecure admits that it is working with investigation authorities and others, but it said that any help in this matter will be highly appreciated.
Coinsecure has over 200,000 users trading on its platform daily.
"We regret to inform you that our bitcoin funds have been exposed and seem to have been siphoned out to an address that is outside our control," the company said in a statement posted on its website.
"It is for reasons like these that there is a need to regulate crypto-exchanges," said Anirudh Rastogi, founder and managing partner at TRA Law, a firm that specialises in emerging-technology businesses.
"Pushing the exchange business out from the formal economy to the informal cash economy to operate under the radar will worsen the problem, not solve it," Rastogi said.
With Reuters inputs
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