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In massive cyber heist, Bengaluru cryptocurrency firm loses ₹384 crore; Inside job suspected: Report
Neblio Technologies faces one of India's largest cyberattacks, with ₹384 crore stolen from its cryptocurrency wallet.
In a shocking development, Neblio Technologies Private Limited, headquartered in Bengaluru and operating the digital asset platform CoinDCX, has reported a significant financial setback after nearly ₹384 crore was stolen in a cyberattack described as one of the country's largest, The Indian Express reported.
According to a complaint filed with the authorities on July 22 by Hardeep Singh, the company’s Vice-President responsible for Public Policy and Government Affairs, the breach occurred in the early hours of July 19. Unknown hackers accessed the company’s cryptocurrency wallet and transferred the equivalent of 44 million dollars to six separate accounts, the report stated.
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The company's internal review traced the incident back to a security compromise involving an employee identified as Rahul Agarwal, who received ₹15 lakh in his bank account. Agarwal’s device, issued by the company strictly for official tasks, was allegedly misused for non-work activities. When confronted, Agarwal replied that he had been pursuing a part-time job.
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In his statement, Singh indicated a suspicion that Agarwal might have collaborated with others to orchestrate the theft.
A spokesperson for Neblio cautioned against drawing conclusions or spreading unverified news, noting that official investigations are underway and urged that no more information be released at this stage to preserve the investigation’s integrity.
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Whitefield CEN police have initiated proceedings in the case, recording offences under multiple provisions of the Information Technology Act and the Bharatiya Nyaya Sanhita (BNS0, ranging from computer fraud and theft to criminal breach of trust and identity theft. Police stated that further inquiries are ongoing into the substantial heist, and more details are awaited.
