One of India’s biggest cryptocurrency trading platforms Coinsecure that lost over $3.5 million in Bitcoins (Bitcoin) because of a security breach last week, has announced on its website that it will most probably refund in Indian rupees, not in Bitcoins.
"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 INR," the announcement reads.
Coinsecure previously said it is trying to recover the lost funds, but it will reimburse customers from the company's personal funds.
According to the company, an official at Delhi-based Coinsecure was extracting Bitcoin to distribute to customers and he claims the funds were lost in the process. The company tried to trace the hackers, but found that all the data logs of the affected wallets had been erased, leaving no trails about where the Bitcoins were transferred.
The website of the company has since then remained shut.
By Anton Lysenkov