Rs 384-crore cyber heist at Bengaluru crypto firm, employee under scanner
Bengaluru-based Nebilo Technologies Private Limited, operating CoinDCX reported a loss of Rs 384 crore following a cyberattack. The breach occurred during the early hours of July 19. An internal review traced the origin of the breach to Rahul Agarwal, an employee who was found to have received Rs 15 lakh in his personal bank account during the period of the cyber attack
New Delhi: Bengaluru-based Nebilo Technologies Private Limited, operating the popular digital asset platform CoinDCX, has reported a staggering loss of Rs 384 crore following a cyberattack. The incident is currently under investigation.
According to The Indian Express, the breach occurred during the early hours of July 19. In a complaint lodged with the Whitefield CEN police on July 22, Hardeep Singh, Vice-President for Public Policy and Government Affairs at Nebilo, said that unknown hackers managed to infiltrate the firm's cryptocurrency wallet. The attackers successfully siphoned off USD 44 million (approximately Rs 384 crore), which disturbed the funds across six separate accounts.
Employee accused of breach
An internal review traced the origin of the breach to Rahul Agarwal, an employee who was found to have received Rs 15 lakh in his personal bank account during the period of the cyber attack. Agarwal's official device, which was meant for work purposes, was reportedly misused for unauthorised activities. When confronted, he allegedly admitted to holding a part-time job.
Singh's complaint also suggested that Agrawal may not have acted alone and could have coordinated with others to orchestrate the theft.
Official investigations underway
A Nebilo spokesperson issued a statement saying that the public and media should refrain from speculation. "We request everyone to avoid circulating unverified information. Official investigations are underway, and the integrity of the process must be preserved," the spokesperson said.
The Whitefield CEN police have registered a case under multiple sections of the Information Technology Act and the Bharatiya Nyaya Sanhita (BNS), including charges related to computer fraud, criminal breach of trust, theft and identity theft. According to reports, police officials confirmed that further inquiry is being carried out.