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Coinsecure loses $3.5 million  

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Reek
 Reek
Active Member
Joined:3 years  ago
Posts: 15
14/04/2018 5:34 am  

Coinsecure recently had a breach and lost nearly $3.5 million. Their chief of security seems to be the prime suspect who they assume has run off with the money.

https://www.cnbc.com/2018/04/13/coinsecure-cryptocurrency-exchange-lost-3-million-and-it-thinks-its-security-chief-stole-it.html


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Miranda
Active Member
Joined:3 years  ago
Posts: 10
16/04/2018 12:29 am  

Damn, That's a hell of  alot of money. Was money stolen from users wallets or from their main store?


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admin
Member Admin
Joined:3 years  ago
Posts: 79
16/04/2018 3:28 pm  

As per the article it would appear that the coins were stored in a cold wallet, the private keys of which were controlled by CoinSecure and mainly by the head of Security there. In such circumstances it is very easy for malicious actors to exercise control over the funds in question. 

Don't keep your coins in an exchange. 


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