India: Coinsecure [Finally] Reveals Compensation Process for $3 Million Bitcoin Theft

Unocoin Bitcoin

After delays, Indian cryptocurrency exchange Coinsecure outlined its compensation process for customers impacted by the theft of 438 bitcoins in April, worth approximately $3 million at the time. In an announcement on its website on Tuesday, Delhi-based cryptocurrency exchange Coinsecure revealed it will begin processing customer claims for compensation in rupees, India’s fiat currency. Customers...

30% Off! Venezuela Offers India Cheap Crude Oil on a Discount, if Paid in Petro

oil bitcoin

Venezuela has recently offered India a 30 percent discount on crude oil purchases if the country purchases it using its oil-backed cryptocurrency, the Petro. According to a report published by the Business Standard, a team of experts from Venezuela’s blockchain department went to India last month to conduct the deal. While in India, Venezuela’s experts struck a deal with Delhi-based...

Coinsecure Delays Compensation Claims after $3 Million Bitcoin Theft


Indian cryptocurrency exchange Coinsecure is delaying the compensation process for customers impacted by the theft of 438 bitcoins earlier this month. In an announcement on its website on Sunday, Delhi-based cryptocurrency exchange Coinsecure has offered its reason for the lack of progress in reimbursing its users following the $3 million theft of customers’ bitcoins from its wallets over a...

Coinsecure Prepares Customers’ Claims Process For Stolen Bitcoin

India bitcoin price

Indian cryptocurrency exchange Coinsecure has advised users on its website that it has been working with authorities since last week’s theft of 438 bitcoins and has asked for patience as it prepares the claims process. The company’s legal team is reviewing contracts and preparing the claims form for users to peruse. The exchange has been “flooded with calls” for the past few days. Coinsecure...

Coinsecure Offers 10% Bounty on $3 Million Theft, Customer Refunds in Rupees Not Bitcoin

India bitcoin price

Indian cryptocurrency exchange Coinsecure has reiterated its intention to refund customers after last week’s $3(+) million theft. A significant majority of the stolen funds could be paid in Indian fiat rupees instead of bitcoin – if the siphoned bitcoins aren’t recovered. In a notice posted on its website over the weekend, Delhi-based crypto exchange Coinsecure insisted that all customer deposits...

Indian Exchange Coinsecure Claims Insider Job in $3 Million Bitcoin Theft

Bitmain, Bitcoin miner, Antminer S15

Indian bitcoin exchange Coinsecure has disclosed a theft of 438 bitcoins, valued at over  $3 million at press time, from its wallet in what is the country’s biggest cryptocurrency theft to date. Delhi-based cryptocurrency exchange Coinsecure has accused its own CSO of stealing the coins from the company’s wallet in an FIR (First Information Report) filed with the police on Thursday. In an...

Indian Bitcoin Exchange Zebpay Adds Litecoin Support


On January 25, 2018, Zebpay, one of India’s most popular mobile-based cryptocurrency exchanges, announced the addition of Litecoin to its trading platform. In a blog post on its website, the company stated that the cryptocurrency is one of the several other tokens that are also scheduled to be added in the near future. Litecoin, released in October 2011 by former Google employee, Charlie Lee, was...

India’s Biggest Bitcoin Exchanges See Bank Accounts Frozen: Report

Bitcoin India

According to a report by the Indian news publication, The Economic Times(ET), bitcoin exchanges in India may be facing some disruption from the country’s top financial institutions. Over the past month since December 2017, several national banks, including State Bank of India, HDFC Bank, Axis Bank, Yes Bank and ICICI Bank, have frozen accounts belonging to select digital currency exchanges. The...

Indian Bitcoin Exchanges Announce They Won’t Support Bitcoin Cash

Bitcoin Cash

Three of Indian’s top bitcoin exchanges have revealed that they won’t be supporting Bitcoin Cash, the new digital currency that is expected to result from a user activated hard fork (UAHF) on the 1 August. The three exchanges that have made the announcements are Zebpay, Unocoin and Coinsecure. As well as stating that they have no plans to support Bitcoin Cash, all three will be...

“Exponential Growth” of Bitcoin Users is Hurting Indian Exchange Coinsecure


Indian bitcoin exchange Coinsecure is current seeing downtime and hasn’t processed withdrawals in a week. The reason, the company says, is due to soaring interest and adoption of bitcoin in the country. As reputation goes, Coinsecure is among India’s top three bitcoin exchanges. Founded in 2013, it is also among India’s oldest Bitcoin businesses and has partnered with the likes of blockchain...

Purse.io Partners Coinsecure to Push Bitcoin Adoption with Amazon Discounts


Bitcoin startup Purse.io, an online marketplace that enables discounts on Amazon with payments in bitcoin has announced a new partnership with Coinsecure, a prominent Indian bitcoin exchange. Announced yesterday, the new collaboration comes during a time when demand for bitcoin is increasing in India following the controversial demonetization drive in early November. The tie-up is a marked effort...

Indian Bitcoin Exchange Suffers Outage as DDoS Attacks Continue


The onslaught of DDoS attacks targeting bitcoin websites around the world isn’t showing any signs of abating as an Indian bitcoin exchange came under attack today. Indian bitcoin exchange Coinsecure saw a spike in traffic this Monday morning local time. The number of connections attempting to reach the website was enough to disrupt exchange activity. Operational delays ensued on its website...

India’s First Real-Time Bitcoin Trading App Launched for 190 Million Smartphone Users


Indian bitcoin exchange Coinsecure has launched a mobile app that facilitates real-time bitcoin trading on-to-go in a country that is seeing an increasing number of adopters of the cryptocurrency. Indian bitcoin users on Android will now be able to trade and exchange bitcoin on-the-go via a mobile application. The application also displays live order books, facilitating users to place their bids...

Bitcoin Could Get a Festive Push in India


Diwali, the Hindu festival of lights, is soon upon us, but could this celebration filled with fireworks, decorations, and lights help boost bitcoin adoption in the country? On October 20, Diwali will, for five days, light up the skies as Indian people around the world celebrate the festival by lighting candles and fireworks to seek divine blessings from the goddess of wealth, Lakshmi. According...

India to see Bitcoin and Blockchain Remittance from New Partnership

Bitcoin Price

A new partnership between Indian bitcoin exchange Coinsecure and global money transfer platform OKLink – a spinoff of Chinese bitcoin exchange OKCoin – will see digital currency and fiat remittances to Indians using blockchain technology. Indian citizens will soon be able to send or receive funds in bitcoin and the local fiat Indian rupee from countries around the globe via a newly developed...

Indian Bitcoin Startup Ramps up with a New Global Head for Business Development


Coinsecure, an early Bitcoin-based startup in India that functions as a trading platform and a secure wallet is looking to scale its operations in India and beyond. The company has announced Elizabeth McCauley, as its Head of Global Business Development. Bitcoin has previously seen its regulatory challenges in the second most populated country in the world. Lately, however, things are looking up...