Cryptocurrency exchange platform ShapeShift.io has provided latest updates on the ongoing investigations following the data breach that took place last week.

In a post on Reddit, Erik Voorhees, ShapeShift CEO, said that their suspicion about the hack being an inside job, has in fact turned out to be true.

“Since the investigation into the ShapeShift hack last week started, we had suspicion that someone previously on the team was involved, and that this person assisted an outside hacker. We are confident now that is is indeed the case”, he wrote.

Voorhees also mentioned that the investigations are being carried out in collaboration with a forensic specialist from LedgerLabs. He added that customer refunds for prior pending orders are in the process of being resolved, while reitering that no customer funds were ever at risk, by design.

ShapeShift’s website continues to be offline at the time of writing. In the wake of the recent hack, the company has decided to scrap the old infrastructure and rebuild in a wholly new and safe environment.

“Our team continues to revise and rebuild infrastructure, hardening not only prior vulnerabilities, but future potential attack vectors. It has been inspiring to see anti-fragility in action as ShapeShift gets stronger”, Voorhees said.