Coinsecure reported the loss of about 438 bitcoins, or about $3 million worth of the cryptocurrency, the Indian cryptocurrency platform reported.

The hack was attributed to an employee who was extracting bitcoin for the platform’s customers, the company said in a statement last week, when the bitcoins were siphoned away during the process.

The company is assuring customers on the platform that its fiat funds, in rupees, are “100% safe,” and has promised full refunds for users “should we be able to recover all of our BTC,” the company wrote in a statement posted on its blog this weekend.

Coinsecure said on its blog that, “if recovery of siphoned BTC is not possible, then we will apply the lock in rates as of the 9^th of April, 2018.”

The hack comes as regulators in India, as well as other countries, are growing more concerned about cryptocurrency trade; the Reserve Bank of India recently banned regulated institutions from providing services to holders or users of cryptocurrency.

The hack also comes as bitcoin continues its slump; the currency is down 4% as of 9am ET, hovering at just under $8,000 in value.

Read more at Coinsecure, Bloomberg, and Reuters.