Delhi Court Denies Bail in Massive Cyber Fraud Scandal
A Delhi court rejected the bail plea of S K Masud Alam, accused in a Rs 2,000 crore cyber fraud case involving hacked crypto wallets on WazirX. The court cited his crucial role in the conspiracy, connections with foreign criminals, and risk of absconding and influencing witnesses.
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The Delhi judiciary has turned down the bail application of S K Masud Alam, accused of orchestrating a colossal Rs 2,000 crore cyber fraud.
According to Additional Sessions Judge Saurabh Partap Singh Laler, Alam allegedly facilitated cybercriminals in siphoning off USD 234 million worth of crypto tokens from WazirX's hacked wallets.
The court emphasized that Alam's ties with foreign-based hackers, particularly his interactions with M Hasan via Telegram, along with his geographical proximity to the Bangladesh border, presented substantial risks of him absconding or obstructing justice.
(With inputs from agencies.)
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