Theft

The power authority of Zhenjiang noticed an unusual spike in electricity consumption and abnormal line loss in some factories, and reported them to the local police.

Crypto security and intelligence firm CipherTrace has published its Q1 2019 Cryptocurrency Anti-Money Laundering Report, revealing that exchange platforms all over the world have lost nearly $400 million as a result of hacks and thefts.

The company had reportedly lost $26 million as a result of theft and the subsequent bankruptcy declaration. Coinbin’s CEO Park Chan-kyu claims that the move was “due to a rise in debt following an employee’s embezzlement.”

Roughly $1 billion in digital asset funds have been stolen since the start of 2018.

It may be the biggest cryptocurrency exchange heist in India to date, and the Coinsecure suspects an employee has run off with the money.

Important Disclaimer: NOTHING HEREIN IS INTENDED TO BE UNDERSTOOD AS LEGAL ADVICE. CONSULT A LAWYER QUALIFIED TO PROVIDE LEGAL ADVICE IN YOUR JURISDICTION.News broke early...