BENGALURU: Investigation of the Rs 379 crore cryptocurrency theft reported by CoinDCX has led to Bengaluru City police arresting a software engineer of the company after hackers allegedly succeeded in compromising confidential financial processes using his login credentials.
The arrested employee is Rahul Agarwal (30), a resident of Carmelaram area, and he is from Haridwar, Uttarakhand. The arrest follows a complaint by Neblio Technologies, which runs crypto trading platform CoinDCX.
Quoting Neblio vice-president (public policy) Hardeep Singh, police said: "Rahul was on permanent rolls of the company and he was given a laptop strictly for office work. He came under the scanner after the company found out that an unknown person had hacked into the system at 2.37am on July 19 and transferred one USDT to a wallet. Around 9.40am, the hacker siphoned off $44 million (Rs 379 crore) and transferred it to six wallets."
When the company conducted an internal probe, it was found the security credentials of Rahul's laptop were compromised, allowing the hacker to access the company's server. Following this, his laptop was seized and examined.
HM Chaithanya Swamy is a Special Correspondent at The Times of In...
Read MoreHM Chaithanya Swamy is a Special Correspondent at The Times of India, Bengaluru, with 15 years of experience. He has established a strong reputation in crime and civic reporting, covering a wide range of issues including traffic challenges, cybercrime, and criminal trends in Bengaluru. His reporting spans high-profile investigations led by agencies including National Investigation Agency (NIA), Central Bureau of Investigation (CBI), and Directorate of Enforcement (ED), as well as key state police agencies, court proceedings, and crimes against women and children.
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