Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Delhi Police Arrests Bengal Man in ₹2000 Cr WazirX hack

Delhi Police Arrests Bengal Man in ₹2000 Cr WazirX hack

CryptotimesCryptotimes2024/11/14 05:22
By:Jalpa BhavsarJahnu Jagtap

Alam created a WazirX account under the name Souvik Mondal, which he later sold via Telegram to an individual named M Hasan.

In a major breakthrough, Delhi Police have arrested SK Masud Alam from West Bengal in connection with the cyberattack on cryptocurrency exchange WazirX, which resulted in the theft of digital assets worth ₹2,000 crore. 

Alam allegedly set up a fake account to facilitate the attack, which targeted WazirX’s hot wallet and attempted to breach its cold wallet. The attack was one of the largest breaches in the crypto sector, drawing widespread attention to security vulnerabilities within digital asset exchanges.

Alam, a resident of East Midnapore in West Bengal, was apprehended by Delhi Police’s Special Cell following an investigation led by the Intelligence Fusion and Strategic Operations (IFSO) division.

According to the chargesheet, Alam created a WazirX account under the name Souvik Mondal, which he later sold via Telegram to an individual named M Hasan. This account was then used to carry out the cyberattack. The authorities continue to probe Alam’s connections, believing that this may be part of a larger network of cybercriminals.

The chargesheet also highlights the alleged non-cooperation of Liminal Custody, a digital asset custody firm responsible for securing WazirX’s wallets. Despite multiple notices issued by the Delhi Police, Liminal Custody reportedly failed to provide crucial information needed for the investigation, raising concerns about its security practices. 

This lack of cooperation has further complicated efforts to trace the full scope of the cyberattack, with police noting that Liminal’s role will be addressed in a supplementary chargesheet.

During the investigation, the Delhi Police seized three laptops from WazirX that authorized signatories used for approving transactions via multi-sig wallets. The authorities also confirmed that WazirX has fully cooperated with the investigation, providing vital data such as KYC details and transaction logs to help track the stolen funds.

The police noted no evidence of unauthorized access to WazirX’s systems, either locally or remotely, suggesting that the breach was an inside job facilitated by the compromised accounts.

As the investigation progresses, Liminal Custody’s lack of cooperation remains a key concern, potentially hindering efforts to trace the culprits behind the crypto heist. Authorities are working to identify other individuals involved and uncover the full extent of the cyberattack.

Follow The Crypto Times on Google News to Stay Updated!
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Senate majority leader fast-tracks GENIUS Act to regulate stablecoins

Share link:In this post: Senate majority leader John Thune took steps to fast-track the GENIUS Act. Bill Hagerty may release an updated version of the GENIUS Act soon. Arthur Wilmarth believes the bill is deeply flawed.

Cryptopolitan2025/05/02 22:11

Canada’s new Prime Minister will meet Trump to revive trading relations

Share link:In this post: Prime Minister Mark Carney will meet Donald Trump in Washington to address trade tensions. Canada plans to counter US tariffs affecting its key industries like auto and steel. King Charles will open Canada’s new parliament in Ottawa on May 27.

Cryptopolitan2025/05/02 22:11

Google gets September court date to begin fight for its ad tech business

Share link:In this post: Google will face a U.S. antitrust trial starting September 22, 2025. The DOJ wants the tech giant to remove its key advertising tools, specifically its publisher ad server and ad exchange tools. The DOJ is attempting to force a sale of the Chrome web browser.

Cryptopolitan2025/05/02 22:11
Google gets September court date to begin fight for its ad tech business