$3.5M Worth BTC Stolen From Coinsecure Exchange

CEO of exchange believes that it was the inside job and suspects the CSO of the company
13 April 2018   1033

The CEO of the Indian cryptoexchange Coinsecure, accused the head of the security department of his company of stealing 438 bitcoins or about $ 3.5 million at today's rate.

Coinsecure reported the incident on its website, laying out 2 images on the main page. The first image represents a message from the exchange team, the second is a scanned copy of a statement that CEO Coinsecure Mohit Carla sent to the police in New Delhi.

Our system itself has never been compromised or hacked, and the current issue points towards losses caused during an exercise to extract BTG [Bitcoin Gold] to distribute to our customers. Our CSO, Dr. Amitabh Saxena, was extracting BTG and he claims that funds have been lost in the process during the extraction of the private keys.

Coinsecure Team

According to the second statement, Saxena told the team that the funds were stolen from the bitcoin wallet of the company.

However, the head of the exchange does not believe the words of his subordinate, which he indicated in a statement sent to the police.

Saxena is "making a false story to divert [his] attention and might have a role to play in this entire incident," Karla said.

The CEO demands that the police seize Saxena's passport, because he believes that his employee "might fly out of the country soon".

Carla founded Coinsecure in 2014. According to him, only he and Saxena had access to private keys from the main wallet of the exchange.

Huobi to Launch Regulated Crypto Exchange

New entity will be focused on the institutional investors
07 December 2018   99

After obtaining a DLT license in Gibraltar, the Huobi cryptocurrency exchange revealed plans to launch a global infrastructure for clients.

According to Huobi representatives, the Gibraltar license gives the right to store and transfer cryptocurrency assets on behalf of clients all over the world. It will also simplify the exchange of fiat currencies for cryptoactives, according to a press release.

Our Gibraltar DLT license will allow us to open a fully-regulated exchange for our Global Institutional clients and retail clients alike, so this is a big win for Huobi and a very positive step forward for our global strategy. It's no secret that we think that well-designed regulatory regimes are a key part of the future for the cryptocurrency industry. Among other benefits, our DLT license will allow us to open doors to more institutional investors who were previously unable or unwilling to get involved in an unregulated sphere.

Lester Haoda Li

Head of Global Institutional Business, Huobi London

In a press release, Huobi also notes that Gibraltar was the first jurisdiction to introduce a regulatory framework for the provision of technology services in a distributed registry.