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   1129

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.

Poloniex to Suspend Operations for Few Hours

Representatives of the exchange say users' funds will be completely safe during maintenance
21 February 2019   78

The cryptocurrency exchange Poloniex has announced maintenance, which will begin on February 22 at 22 UTC. The trading platform will be unavailable for several hours.

Representatives of the exchange claim that the users' funds will be completely safe. Technical work associated with the modernization and transition "to the best data centers, which will increase the reliability of the platform and increase uptime."

Also in Poloniex noted that the trade orders of users will not be canceled.

Recall, recently Poloniex has added to the listing of privacy-oriented cryptocurrency Grin.