Coinsecure to Refund in Rupees After $3.4M Hack

Hacked Indian cryptocurrency exchange can provide compensation in local currency instead of "digital gold"
17 April 2018   1575

The Indian exchange Coinsecure, which lost about $ 3.4 million in bitcoins last week, is ready to compensate users' losses with one reservation.

According to a message on the Coinsecure website, all the tools users kept in Indian rupees are safe. However, 438,138 BTC recovered and failed. If the investigation does not lead to anything, compensation for losses of users can be made in rupees.

Through the course of the investigation, should we be able to recover all of our BTC, all our customers' BTC holdings will be refunded as per the balance they held with Coinsecure. However, if recovery of siphoned BTC is not possible, then we will apply the lock in rates as of the 9th of April, 2018. 10% of the coin holding balance will be refunded in BTC and 90% will be returned in [Indian rupees].
 

Coinsecure

Earlier, CEO of Coinsecure accused the head of the security department in heist and demanded that local police confiscate his passport, fearing that he could leave the country.

On April 9, at the end of the day, the bitcoin price was around $ 6,800, after which it showed positive dynamics and rose by $ 1,500. Thus, if damages are compensated in rupees, Coinsecure users will lose about 17% against the current exchange rate of the crypto currency.

The exchange said it was looking for the missing funds with "global experts and exchanges", and promised to inform users about the successes.

China to Finance Hacker Attacks on Exchanges, - FireEye

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period
08 August 2019   266

The hacker group APT41 attacks companies in the areas of healthcare, telecommunications, fintech, media, and cryptocurrency exchanges. This activity is funded by the Chinese government, according to analysts of cybersecurity company FireEye.

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period.

Industries Targeted by APT41
Industries Targeted by APT41

At the same time, APT41 pursues its own goals, extracting financial benefits from attacks, which is unusual for other groups under the Chinese government, according to FireEye.

APT41 is known to include at least two people with the pseudonyms Chzan Xuiguan and Wolfji. The group probably has connections with other hacker organizations like BARIUM and Winnti.

FireEye also evaluated at what time of the day the APT41 attacked the gaming industry (its core target) and businesses from other areas. It turned out that this was happening outside the framework of a standard working day - probably these people, among other things, have the main job.

APT41 Operational Times
APT41 Operational Times

According to the UN Security Council, hackers under the DPRK government stole about $ 2 billion from banking institutions and cryptocurrency exchanges.