In April, Coinsecure, a cryptocurrency exchange firm reported that a total of 438 bitcoins valued at approximately Rs 20 crore had been stolen from its wallet. On Monday, almost Five months after the incidence Cyber Cell of Delhi Police is set to file a charge sheet in the case.
Reportedly on April 9, the biggest wallet hack in a cryptocurrency exchange firm came to report as all the bitcoins stored offline by Coinsecure had vanished. It was later discovered that private keys i.e. the password kept stored offline by the company were leaked online leading to the hack.
Initially, Interpol was contacted to help officials trace the bitcoins. Some cryptocurrency firms outside India, where the hackers used the stolen bitcoin was identified by the cops, but nothing more came their way.
DCP (cyber cell) Anyesh Roy, confirmed the current developments and stated:
“We contacted some of the exchange firms from where the bitcoins were routed. Initially, they didn’t give a response, but now we are in the process of getting the information through mutual legal assistance treaty.”
Basically, the mutual legal assistance treaties are agreements between two or more countries, that is primarily used to request and obtain evidence for criminal investigations and prosecution. Five cryptocurrency exchange firms have been identified across the globe. A trail of bitcoin transfer is being created by using the information given by these firms.
Coinsecure’s chief security officer was considered one of the prime suspects of the leak and was arrested. The charge sheet filed by Delhi police weighs in around his role. Senior police officers mentioned that the data footprint indicates the involvement of an insider in the hack. The company’s servers and computers were seized after the case was registered, they are still being analyzed for further information.
There was a time when Coinsecure has around two lakh customers, following the hack the platform has shut down its Indian operation after compensating their customers, who bear losses due to the hack. Mohit Kalra, the CEO of Coinsecure confirms paying around 20 crores as compensation. Meanwhile, a bounty of 2 crores is announced by the company.
Read more: Coinsecure Starts Compensating the Bitcoin Loss in INR to its Users
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