CoinDCX Suffers Rs 380 Crore Crypto Theft Linked to Insider Involvement

An important development underlining the growing threat of insider cybercrime has occurred in Bengaluru, when police arrested a software engineer who was suspected of committing a massive cryptocurrency heist that defrauded CoinDCX of approximately Rs 379 crore. Agarwal, a 30-year-old resident of Carmelaram and originally from Haridwar, Uttarakhand, was arrested on July 26 by the Whitefield CEN Crime Police, and is currently being held in custody.
An investigation conducted by 

The Times of India prompted by a formal complaint from Neblio Technologies, the parent company of CoinDCX, led to the identification of Agarwal. As a consequence of the breach, which was reportedly made possible by Agarwal’s login credentials, hackers were able to exploit confidential financial protocols within the exchange’s infrastructure, prompting the exchange to investigate the potential for internal access vulnerabilities as a whole. 

There was a serious breach on July 19, when CoinDCX’s internal monitoring systems flagged unusual activity within CoinDCX’s digital infrastructure, which began to reveal the complex nature of the breach. According to Hardeep Singh’s First Information Report that was submitted by CoinDCX on July 22, the attackers initially performed a seemingly benign 1USDT test transaction at 2:37 a.m., in an effort to test the security of the CoinDCX network.

It was

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