We have reported that 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. Later Coinsecure stated that it was ready to compensate users' losses with rupees.
The company initially planned to start the disbursement of funds by the end of last week, but on April 29 Coinsecure published an announcement stating that the disbursement was being delayed.
When investigations are underway, we don’t have much of a say and do need permissions from the authorities to start the compensation process, which we are yet to receive. We will update you when we have definite dates around the start of the process.
Moreover, Coinsecure claimed that there will be new contracts rolled out to all users who held a balance on Coinsecure (BTC and INR). The date of funds reimbursement was not specified by the exchange, and Coinsecure team promised to publish all the latest news regarding the issue.