438 Bitcoins Worth Nearly $3.5 Million Stolen From Exchange In India, CSO Accused (indiatimes.com)

William Robinson shares a report from The Economic Times: Nearly 438 bitcoins, worth nearly $3.5 million, were stolen from a top exchange firm in India in what is being billed as the biggest cryptocurrency theft in the country so far. The exchange, which has over two hundred thousand users across the country, found that all the bitcoins that were stored offline had vanished. It was later found that the private keys -- the password that is kept by the company and is stored offline -- were leaked online, leading to the hack. 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. Coinsecure, a Delhi-based cryptocurrency exchange, is accusing its CSO, Amitabh Saxena, of siphoning off the money from the firm's wallet. The exchange is urging the government to seize Saxena's passport, fearing that he may leave the country.

Comments

Looks like an error to me

[Hognoxious]

The error was not giving half of them to the police.

Re:Erased?

[Zocalo]

Depends on how accurate the reporting is. BTC wallet to BTC wallet transactions will, of course, be recorded in the blockchain, but if they actually mean the logs of customer transactions between Coinsecure's user accounts and the Coinsecure wallet(s), then that's entirely different and it's quite possible that someone with the right level of access within Coinsecure could erase all the logs. The trick would be to mask the BTC leaving Coinsecure's wallets, either through tumbling or by not getting greedy and only taking enough it would not be possible to determine which BTC passing in and out of Coinsecure's wallets were stolen and which are legitimate transactions. The latter might not be too difficult if there are enough transactions and all of the internal logs are gone, but you'd probably still want to tumble the stolen coins, just to be sure.