Author: Jagdish Kumar, India
With months of delay, New Delhi based cryptocurrency exchange; Coinsecure has finally announced the refund and settlement process.
The company to its members in an email on 15 May 2018 has asked to claim and follow sets or guidelines to claim the refund.
The refund was to begin from 29 April 2018, but it got delayed with no reason the company gave.
To claim the registered user has to go through KYC and submit following documents that include biometric number (AADHAR), Income tax papers of last financial year and registered address proof.
The claiming process will then require them to download a ‘Settlement and Release Agreement’, print a copy of it, fill it out, sign across all pages and then send it through Speed Post along with following documents.
However, the claim will be in Indian Rupee that will be INR 437,000 BTC (USD 6411) (the rate of 9th April, when exchange got hacked and Bitcoins were stolen).
According to this exchange rate the INR equivalent amount of BTC holdings will be transferred to the bank accounts of users.
The BTC rate is low by over 21%, as currently trading at INR 562,000 (USD 8244) per BTC on trading platform.
The last date to send you claim is 30 June 2018.
On 10 April 2018, Coinsecure the company filed a complaint to Delhi Police, Cyber cell informing that 438.318 Bitcoins (INR 1.09 billion) was stolen from the company Bitcoin wallet due to some attack.
The company said that private keys of the wallet were with CSO Dr Amitabh Saxena and CEO Mohit Kalra, the company added.