Connect with us

Bitcoin News

Indian Exchange Coinsecure Claims Inѕіdеr Job іn $3 Mіllіоn Bitcoin Thеft

Indian bitcoin exchange Cоіnѕесurе has disclosed a theft оf 438 bitcoins, vаluеd аt аррrоx $3.4 mіllіоn аt рrеѕѕ tіmе, frоm іtѕ wallet іn whаt is thе соuntrу’ѕ bіggеѕt сrурtосurrеnсу thеft to dаtе.


Delhi-based сrурtосurrеnсу exchange Cоіnѕесurе hаѕ ассuѕеd its оwn CSO of stealing thе coins frоm the company’s wаllеt іn аn FIR (First Information Report) fіlеd wіth thе роlісе on Thursday. In аn аnnоunсеmеnt оn іtѕ hоmераgе, the exchange ѕаіd ѕоmе of іtѕ bіtсоіn fundѕ hаd “bееn exposed” аnd “seem tо hаvе bееn siphoned out tо аn аddrеѕѕ” that іѕ beyond its оwn control.


Coinsecure points оut thаt their ѕуѕtеmѕ are nоt еndаngеrеd оr hacked. Inѕtеаd, hе emphasizes thе exchange of unсоnvіnсіng сlаіmѕ оf іtѕ CSO, Amіtаbh Sаxеnа, who contends the thеft оссurrеd during a ѕераrаtе “еxеrсіѕе to еxtrасt BTG (Bіtсоіn Gоld)” tо dіѕtrіbutе аmоng its сuѕtоmеrѕ.


Cоіnѕесurе wrоtе:


Our CSO, Dr. Amіtаbh Sаxеnа, wаѕ extracting BTG аnd he claims thаt fundѕ hаvе been lost іn thе рrосеѕѕ during thе еxtrасtіоn оf the private kеуѕ.


According to thе роlісе соmрlаіnt (pinned below), Coinsecure CEO Mоhіt Kаlrа, whо holds thе рrіvаtе keys fоr thе соmраnу’ѕ wallets along wіth thе CSO wrоtе: “On 9th Aрrіl 2018, we were іnfоrmеd bу our CSO, DR. Amitabh Sаxеnа, that 438.318 bitcoins (wоrth INR 19 Crоrеѕ – Aррrоx.) wеrе ѕtоlеn frоm оur соmраnу’ѕ bitcoin wаllеt due tо ѕоmе аttасk.”


Nоtаblу, hе аddеd in the соmрlаіnt:


Aѕ thе private keys are kept with Dr. Amіtаbh Sаxеnа, we feel thаt he іѕ mаkіng a fаlѕе ѕtоrу to dіvеrt our аttеntіоn аnd hе mіght hаvе a rоlе tо рlау іn this еntіrе incident. Inсіdеnt rероrtеd bу Dr. Amitabh Sаxеnа dоеѕ nоt seem соnvіnсіng.


In a ѕераrаtе ѕtаtеmеnt to the Tіmеѕ оf Indіа, the сhіеf еxесutіvе rеvеаlеd that thе рrіvаtе keys wеrе exported online. “It looks lіkе a сrіmе соmmіttеd іntеntіоnаllу,” he added. “We hаvе ѕhаrеd оur ѕuѕрісіоnѕ wіth thе Cyber Cеll аnd соntасtеd specialists tо fіnd out the ѕоurсе оf thе hасk аnd trасе the bіtсоіnѕ.”


Cоіnѕесurе rесruіtеd Saxena as its Chief Sсіеntіfіс Offісеr іn Sерtеmbеr 2017, сіtіng сrеdеntіаlѕ as a professor оf Computer Sсіеnсе іn Australia аnd previous tеnurеѕ at Hеwlеtt Packard (HP) and Aссеnturе. “Dос comes wіth аn еxtrеmеlу ѕtrоng understanding оf the crypto ѕрасе and hаѕ a lоt оf ideas аnd implementations thаt he will be brіngіng tо Coinsecure,” thе exchange ѕаіd аt thе time, роіntіng tо his ѕсіеntіfіс research аrtісlеѕ оn thе blосkсhаіn space.


In his соmрlаіnt, сhіеf еxесutіvе Kаlrа аlѕо stressed thаt the CSO mіght bе a flight-risk, аѕkіng the роlісе tо seize hіѕ раѕѕроrt to keep hіm frоm flying out of thе соuntrу.


Meanwhile, Cоіnѕесurе іnѕіѕtѕ іt wіll recover аnd rеіmburѕе сuѕtоmеrѕ whо hаvе ѕееn their fundѕ ѕtоlеn.


The exchange ѕаіd:


Irrespective оf fundѕ bеіng rесоvеrеd, we re-assure all оur сuѕtоmеrѕ thаt уоu wіll be іndеmnіfіеd from оur personal fundѕ.

Share This With Your Friends

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at

Continue Reading

Bitcoin News

Is Bitcoin’s Price Headed To $100 Or $100k: Economists & CEOs Have Their Say

‘Where is Bitcoin’s price headed to?’ is the question everyone seems to ask nowadays.

After coming close to $20,000 in December 2017 and starting 2018 in a relatively good fashion, February was hard for Bitcoin and most of the cryptocurrencies – sinking the largest cryptocurrency to less than $7,000 and the entire crypto market cap from $800 billion to less than $250 billion.

Currently, there are many predictions and scenarios. Below, we are analyzing and discussing the most popular ones – in order to estimate all the directions of Bitcoin’s price in the medium to long-term.

Scenario #1: Investors’ money will increase Bitcoin’s price

The first scenario was discussed by the CEO of an American Express-backed startup named Abra. In an interview with Business Insider, he predicted that big investors will drive the Bitcoin’s price to new gains in the long term.

Jan Brzezek, a CEO & co-founder at Crypto Finance AG (a regulated crypto fund) also had his say on the situation. He said:

“It was clearly a hype and FOMO [fear of missing out] was everywhere. But not from rational institutional investors, but retail investors chasing the quick money. There is no free lunch, so this correction was obvious for me. I even expected it earlier. Those investors burnt their fingers and are now too afraid to go back to this exciting new asset class and the expected institutional money has not flown in yet.”

On top of all this, the potential regulation of Bitcoin that is already happening in countries like Malta and Switzerland is likely going to make the price go up and up in the medium to long-term.

Scenario #2: A decade from now Bitcoin is more likely to be worth $100 than $100,000

Kenneth Rogoff, who is a Harvard economist, recently predicted that Bitcoin’s volatility is what makes the cryptocurrency potentially dangerous. On top of that, he pointed to the potential money laundering and tax evasion issues which according to him, may point the price of Bitcoin to $100 rather than $100,000 in a decade from now.

Rogoff also noted that the regulation is a big factor in his prediction – however – he clarified that only a global regulation could be effective in this case.

Scenario #3: Bitcoin’s price will follow a downward trend after the CME futures launch in December 2017

A lot of analysts believe that the sinking of Bitcoin is due to the CME futures launch that happened in December 2017. A popular cryptocurrency blogger wrote an article in which he predicted the Bitcoin’s price downward trend based on the assumption that gold and silver prices have been suppressed for the last seven years – similar to a lot of other commodities.

While bulls are certain that Bitcoin is rising in the long term, Harvard and Wall Street analysts are skeptical. In the end, the uncertainty is what makes everything more interesting – and unpredictable for Bitcoin, the largest cryptocurrency nowadays.

Share This With Your Friends
Continue Reading

Bitcoin News

‘What If I Invested $100 In Bitcoin In 2013?’

Admit it, you have asked yourself ‘what if I invested $100 in Bitcoin in 2013?’

Whether you got your answer or not, the truth is that taking a chance on Bitcoin early on would give you the best gains. And while 2013 is 5 years ago, it was still a time when Bitcoin was popular and when many people knew about it.

Plus, it goes without saying that putting a $100 bill aside in a digital currency won’t make (most of the people) poorer or richer. So, what would have happened if you have done that in 2013?

According to CoinMarketCap (the official cryptocurrency market cap website), the value of Bitcoins was volatile in 2013. That said, the price per Bitcoin (BTC) wasn’t the same all year round. For example, in May 2013, one Bitcoin had a price of $113, while in November it had a price of $230 and in December – a price of around $700.

(Answering ‘what if I invested $100 in Bitcoin in 2013?’)

  • So, if you invested $100 in Bitcoin in May 2013, you would have nearly $8,000 right now.
  • Similarly, if you invested $100 in Bitcoin in November, you would have around $4,000 right now.
  • Lastly, if you invested $100 in Bitcoin in late December, you would have close to $2,000 right now.

As you can see, investing in Bitcoin (BTC) early is important – and was the case for many years. However, it is worth noting that Bitcoin got up to $20,000 in December 2017 – to later on sink to $6,000 in February 2018.

Therefore, the general rule for buying Bitcoin is…

Only buy Bitcoin if you are ready to lose that money and can live with that fact. This is what the ‘investor mindset’ is all about and how you can afford to lose – or win big gains.

So, instead of asking yourself ‘what if I invested in Bitcoin in 2013?’, think about the following…

Are you ready to invest in Bitcoin now?

Let us know in the comments!

Share This With Your Friends
Continue Reading

Bitcoin News

Bitcoin Bingo 2018: The Best Places To Play & Reviews

Nowadays, bingo is one of the most underrated online casino games. At the same time, it is one of the most fun games to play. Bitcoin bingo has everything – meeting the growth of cryptocurrencies and blending it in with great gameplay, big jackpots, and great social aspect.

In times when online bingo is valued at more than $1 billion, it is time for Bitcoin to enter the game. So, what are the best places where you can play Bitcoin bingo?

We are reviewing them below.

Ignition Casino

First on our list is Ignition Casino, one of the biggest casino brands around here. The website accepts bitcoins and has made itself very popular in the industry – sitting among the most professional Bitcoin gambling sites at the moment. There are many popular bingo games including European bingo (90 balls) American bingo (35, 45 or 55 balls) and the speedy 30-ball bingo game.


Next on the list is FortuneJack – a website which likes to call itself the largest bitcoin betting site. There are a lot of bonuses which can be worth as much as 1,777 in mBTC – but also 100% deposit bonuses worth up to 500 mBTC.


Bitbingo is a great Bitcoin bingo website because of its focus on bingo games played exclusively with Bitcoin. There are lots of games in different types – and on occasion, the prices can rise as high as 3 mBTC per card. New players can get 200% on their first deposit and pocket 25% of their losses back.

mBit Casino

Last but not the least is mBit Casino – a Bitcoin bingo website which is among the leading Bitcoin casinos online. With over 900 bitcoin games, keno and lottery, there are Bingo Bonanza, Electro Bingo, Mayan Bingo, Pharaoh Bingo, Samba Bingo and lots of other games. There is a 110% deposit bonus up to a total of 1BTC at this website.

And the best part?

All of these sites make playing bingo with Bitcoins very easy – in the same way like you would use bitcoins at any other gambling site and casino.

Now, it’s time to play Bitcoin bingo – don’t you think?


Share This With Your Friends
Continue Reading

Bitcoin News

Bitcoin Climbs Back To $8,250 While Ethereum And ERC20 Outperform

The past few days were great for alternative cryptocurrencies (altcoins) and Ethereum, which have all outperformed Bitcoin. The valuation of the crypto market is right now at $348 billion and is moving closer to the $400 billion region.

While many would think that the extreme volatility and uncertainty will cause the altcoins to sink, the investors seem to turn out to the cryptocurrencies with the deepest liquidity and stability. The two major corrections in January and February (that sent the crypto market from $816 billion to $240 billion) are now history – and investors heavily lean towards Bitcoin as the safe haven asset.

Altcoins are in the spotlight over the past few weeks, recording strong gains against Bitcoin and moving differently from the leading cryptocurrency. This week, the ERC20 tokens such as Tron (TRX) and ICON (ICX) all performed well against Bitcoin and Ethereum. The increasing value of these tokens and the rising demand from investors in the global market for minor cryptocurrencies like these – show that investors started seeing their value and have become more confident in the market.

Bitcoin, on the other hand, is once again back to $8,250. Over the past 24 hours, the price has recorded a 3% increase and seems to be surging more than it is sinking (when viewed through a 3-week period).

Saxo Bank is one of the best examples for the investor behavior nowadays. The Danish investment bank that focuses on online trading has stated that it expects the inflow of institutional capital into the crypto market to lead to more surges in the price of the vast majority of cryptocurrencies. Their 2018 2nd quarter report reads:

“If there is a significant pullback in the equity markets, there will be an inflow of money into uncorrelated assets, or assets that lie outside the reach of the traditional financial system in which cryptocurrencies are a potential alternative. The inflow of institutional capital to the cryptocurrency market due to the increase in regulation and investor protection could lead cryptocurrencies to a positive quarter,”

As noted by Saxo Bank, the increase in demand for Bitcoin from institutional investors and retail traders is something that needs to be noted – and something that may set Bitcoin apart from the competition in the future.

Share This With Your Friends
Continue Reading


For Updates & Exclusive offers
enter your emal below

Join us on Facebook

Recent Posts


april, 2018

Filter Events

No Events


Trending Worldwide