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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.

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Bitcoin News

Should you invest in Cryptocurrency?

Why You Should Invest In Cryptocurrency today!

A year ago,  a quiet way to success was revealed leading to the creation of instant millionaires from investors.  The online investment known as cryptocurrency increased drastically from January to December of 2017 with an accompanying increase in investors.  A 2018 crypto news source reported that Bitcoin, a type of cryptocurrency, moved from $1000 in January to about $19000 by the end of 2017. Check us out when you are looking for Cryptocurrency news.

Bitcoin is not the only cryptocurrency that witnessed such change.  Other types of cryptocurrency like Ripple and Ethereum also witnessed a drastic change.  In fact, a very strong one at that.

However,  the game turned around for most of the investors as cryptocurrency news showed that there was a massive decline of about 50-75% in the success rate.  This pushed most of the investors to the wall and therefore withdrew their holdings.

But recently,  the latest crypto news showed that a new look has been gotten with many cryptocurrencies like bitcoin,  Ether, etc. having a doubling rate. With this, many were left with a doubting mind of whether to invest or not.

Below are the five reasons why you should consider either investing or reinvesting

Cryptocurrency is growing

Bitcoin news showed that Bitcoin was launched 9 years ago with the other types of cryptocurrency, also of smaller age.  Because it is still in its infancy period, there is a high chance of price fluctuation in cryptocurrency. However, as time goes on with many investors moving in,  there will be an enormous profit associated with it. Hence, this is the appropriate time for you to invest.

Market Work Well With Regulations

Most of the investors of cryptocurrency have ‘regulation phobia’ with the mindset that it paints the market in a bad color.

Well,  the truth of the matter is that regulations and success of the market go hand in hand. In other words,  for a smooth and fair operation of cryptocurrency, regulations must be outlined and adhered to.

No More Anarchy

We all know that anarchy gave birth to cryptocurrency. Fortunately for you,  cryptocurrency has unchained itself from ‘no authority ‘ entrapment. This is the right time for you to invest as cryptocurrency is gaining more ground. For example,  bitcoin news today portrays that bitcoin is now well known around the globe.


More Capital

With the excellent innovation of Initial Coins Offering (ICO),  different varieties of cryptocurrencies are able to raise more capital.  An example is the Ether of Ethereum network that was able to expand its demand through ICO.  Another scenario is the messaging app Telegram that recently declared its intention to launch ICO.

Reputable Companies Are Investing

Cryptocurrency is characterized by a high return potential and this has served as an eye opener for reputable companies like banks and other institutions to the boundless benefit of cryptocurrency.  In return, they help to increase the demands for cryptocurrency by their participation.

In conclusion,  investing in cryptocurrency is one of the ways to increase your money within a short period of time. However,  it is advisable to follow the trends of the online investment advisor as it progresses.

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Bitcoin News

Bitcoin Records New Gains, Rising To $6,700 In A Bullish Run

The Bitcoin price surged high and broke the resistance near $6,400 against the US dollar, following the trend of other altcoins that also rose, led by EOS and its 15% surge over the past 48 hours.

The new bullish trend line pushed Bitcoin towards the $6,700 mark (which it passed). The price of the flagship cryptocurrency is at $6,716 at press time in a new uptrend that supports $6,800 as the high and $6,500 as the downside marks.

This new movement opened the doors for more gains and a greater volume on the market too. Some analysts predict that the surge was because of the news that the major $6.3 trillion asset manager Blackrock set up a new working group to investigate cryptocurrencies, even though the CEO of Blackrock seems to have denied these allegations.

If we look at the chart, it is expected for Bitcoin to push through the $7,000 limit and set the path for a new bullish run. The support level now remains at $6,500 to $6,600 and the Relative Strength Index (RSI) is correcting lower from the overbought levels.

According to, the new bullish run led by Bitcoin is a response to the G20 nation settlement towards a new crypto ‘framework’ that will supposedly monitor crypto assets in markets across the G20 nations. The Financial Stability Board (FSB) also announced that cryptocurrencies like Bitcoin “do not pose a material risk to global financial stability” and that the FSB fully supports “their vigilant monitoring”

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Altcoin News

Messaging Giant LINE Launches A Global Cryptocurrency Exchange

LINE, which is one of the biggest messaging platforms in Japan, recently launched a cryptocurrency exchange. Named BITBOX, the exchange will offer support for 30 cryptocurrencies including Bitcoin.

The announcement came this Tuesday, with LINE confirming the exchange and stating that it will only support crypto-exclusive trading pairs with no trading offered between cryptocurrencies and fiat currencies.

Currently, around 30 coins are being traded – including Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin. All of them went through “a very rigorous evaluation process” by the screening communities within the exchange.

The CEO of LINE stated the following:

“LINE has built its reputation on providing a great social experience for our users, and now we intend to bring that know-how to the world of digital tokens with our BITBOX exchange.”

Right now, LINE sees more than 600 million registered users and 200 million monthly active users worldwide. As such, the exclusion of Japan will definitely have an impact on BITBOX’s growth since the country has the most influential market.

Meanwhile, LINE filed a crypto exchange application within the Financial Services Agency (FSA) in Japan earlier this year – all in order to conduct domestic operations. However, the application is still under review.

“The BitGo wallet is the only institutional-grade, multi-signature, multi-coin hot wallet.” LINE said.

The exchange (BITBOX) will offer zero trading fees for all listed coins in the first month of operations post-launch, welcoming more than 2 million registered customers with a ‘reward equivalent to US$10 in August’ which can be traded on the exchange.

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Altcoin News

70% Of Premier League Football Teams Are In Discussions Over Crypto Sponsorships

After the advertising crackdown which stopped cryptocurrency-related companies from advertising on platforms like Google and Facebook, many companies have been eyeing alternative methods to promote their businesses.

Football, on the other hand, is one of the most popular sports with a global appeal – and the English Premier League is one of the targets for crypto companies. According to statistics, the Premier League is broadcast in 212 countries, reaching a potential audience of 4.7 billion people.

This, according to many, is why crypto companies are already discussing potential sponsorships with around 70% of the Premier League football teams. Aside from discussions, two companies managed to strike a deal and place their logos on the jerseys of two prestigious English Premier League teams.

One of them is the club popularly known as “Wolves” – or Wolverhampton Wanderers, which has signed a sponsorship with the Polish cryptocurrency platform CoinDeal. After raising millions of dollars over the past years, CoinDeal wants to further promote its crypto platform and reach mass appeal.

The Premier League club Arsenal has also signed a similar crypto deal in January 2018 – followed by big players like James Rodriguez, Eden Hazard, and Lionel Messi, all of which promoting various ventures.

According to experts, there are discussions taking place behind the scenes and we will definitely see more of such advertising in the near future. Just like any new market, it will take time.

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