The Coinsecure crypto exchange has lost more than $3.5 million and is blaming it on an inside job, orchestrated by the Cheif Security Officer (CSO).

The Coinsecure crypto exchange is India’s largest Bitcoin (available on Coinbase) (BTC) exchange. The exchange posted on its website Thursday that CSO Amitabh Saxena was in the process of extracting Bitcoin (available on Coinbase) Gold (BTG) so that the cryptocurrency could be distributed among Coinsecure’s customers. However, Coinsecure claims that the funds have now been lost.

On the Coinsecure website, the crypto exchange explains what happened in greater detail: “our Bitcoin (available on Coinbase) funds have been exposed and seem to have been siphoned out to an address that is outside our control.”

The letter goes on to ensure that the Coinsecure crypto exchange system is neither compromised nor hacked and that they have contacted the authorities. Investigations are underway and work is being done “round the clock to restore services and to try and recover all of the lost funds.”