Hackers Steal Rs 380 Crore In Cryptocurrency From CoinDCX, Employee Arrested
Bengaluru police are investigating a massive cryptocurrency theft from leading crypto exchange CoinDCX after hackers allegedly siphoned off nearly $44 million (approximately Rs 384 crore) from the company's wallets.
The theft came to light on July 19, when CoinDCX detected suspicious activity in its systems. According to the First Information Report filed on July 22 by Hardeep Singh, Vice President of Public Policy and Government Affairs at CoinDCX, the hackers first carried out a small test transfer of just 1 USDT at 2:37 a.m. Hours later, they made a massive transaction worth $44 million
To avoid detection, the stolen cryptocurrency was moved through multiple wallets, making it difficult to trace.
During the investigation, police found evidence of possible insider involvement and arrested Rahul Agarwal, a CoinDCX employee.
Sources said Agarwal had been freelancing using a company-issued laptop without permission and had reportedly earned around Rs 15 lakh over the past year. Investigators believe he may have worked with external hackers to pull off the heist.
Cybercrime teams are now working with forensic experts to track the flow of funds and recover the stolen cryptocurrency.
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