Cryptocurrency Catastrophe: Employee Arrested in $44 Million Cyber Fraud Case
A 28-year-old employee has been arrested in connection with a significant cyber fraud involving a city-based cryptocurrency platform. The fraud resulted in a loss of approximately Rs 384 crore, after cryptocurrency was transferred to unknown wallets. The company's vice-president reported the incident, linking the employee's compromised laptop to the hack.
- Country:
- India
In a major breakthrough, police have arrested a 28-year-old employee linked to a sprawling cyber fraud at a city-based cryptocurrency trading platform, resulting in a staggering loss of approximately Rs 384 crore. This development marks a significant step in probing the complex web of digital deception.
According to law enforcement, Hardeep Singh, vice-president at Neblio Technologies Private Limited, reported the breach that occurred on July 19. An unknown hacker allegedly infiltrated the company's crypto wallet, subsequently transferring cryptocurrency worth USD 44 million to various unidentified wallets.
Rahul Agarwal, identified as an employee of the company, was taken into custody for questioning. Police revealed that the company's internal investigation highlighted a breach involving Agarwal's laptop. The suspect reportedly acknowledged holding a part-time job against company policy, possibly facilitating illicit activities.
(With inputs from agencies.)
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