Coinsecure reports ₹ 19 crore Bitcoin heist

India-based cryptocurrency trading platform Coinsecure said it had lost about 438 Bitcoins worth some ₹19 crore allegedly due to a wrong-doing by an employee.

One of the employee was extracting Bitcoin to distribute to customers and he claimed the funds were lost in the process, Secure Bitcoin Traders Pvt., which runs the platform, said in a statement posted on its website.

The system wasn’t hacked or compromised, it, however, noted.

Coinsecure said its employee Amitabh Saxena would have had a role to play in the incident. It has since filed a complaint with Cybercell of Delhi police and asked authorities to bar Mr. Saxena from leaving the country until the probe is completed.

“Our Bitcoin funds have been exposed and seemed to have been siphoned out to an address that is outside our control,” the company said. ``The firm is working toward recovering the money and we reassure all our customers that you will be indemnified from our personal funds,” it added.

The development comes at a time when the Reserve Bank of India has asked banks and other regulated entities to stop dealings with any kind of cryptocurrenices.