$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   1273

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.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   110

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.