Latest news with #NeblioTechnologiesPrivateLimited
Hindustan Times
31-07-2025
- Business
- Hindustan Times
Major cyber heist at Bengaluru crypto firm linked to North Korean hackers; Employee under investigation: Report
A sophisticated cyber-attack targeting Bengaluru's Neblio Technologies Private Limited — the company behind the crypto exchange CoinDCX — has exposed deep vulnerabilities in the digital asset space, casting a spotlight on the suspected involvement of international hacker syndicates linked to North Korea, according to The Times of India. Bengaluru authorities suspect an inside job involving employee Rahul Agarwal, who may have unwittingly aided the breach. Authorities are now working through the fallout of what is being called the largest virtual currency heist the city has witnessed, with stolen assets amounting to an estimated 44 million dollars. READ | In massive cyber heist, Bengaluru cryptocurrency firm loses ₹384 crore; Inside job suspected: Report Security specialists and investigators said that after breaching the company's defences, the digital loot was funneled through six separate accounts before ultimately converging in a single account believed to be under the control of a North Korean operation. Local police noted that similar tactics have been seen in a spate of recent attacks on cryptocurrency exchanges, hinting at a pattern that points towards state-sponsored cybercrime, the report stated. The local investigation also zeroed in on Rahul Agarwal, a CoinDCX employee from Jharkhand, whose corporate device was leveraged in the breach. Police said Agarwal, who had served at the company for several years, became entangled in an online part-time job scam that promised money for minor digital tasks, the Deccan Herald reported. Unwittingly, he allowed his work and personal laptops to be accessed by the fraudsters, who then used his credentials as a conduit into CoinDCX's core systems. While some company officials suspected he was merely an unwitting pawn manipulated by the hackers, others allege possible complicity, and Agarwal has since been taken into judicial custody for further interrogation. Company executives are also said to be under immense pressure to reassure stakeholders, emphasizing that customer assets are safe. CoinDCX has ramped up collaboration with cybersecurity firms, and in a move to recover the stolen funds, announced a substantial bounty for information that leads to asset retrieval or arrests.
Hans India
31-07-2025
- Business
- Hans India
Man arrested in Rs 384 cr crypto fraud case
Bengaluru: A 28-year-old man has been arrested in connection with an alleged cyber fraud at a city-based cryptocurrency trading platform that resulted in a loss of around Rs 384 crore, police said on Wednesday. According to police, Hardeep Singh, vice-president (public policy and government affairs) at Neblio Technologies Private Limited, lodged a complaint stating that an unknown individual hacked into the company's crypto wallet on July 19 and transferred cryptocurrency worth USD 44 million (approximately Rs 384 crore) to an unknown wallet. The assets were then moved across six other unidentified wallets, police added. The arrested person, identified as Rahul Agarwal, an employee of the company, has been taken into custody for further interrogation, a senior police officer said. In the FIR, Singh stated that the company's internal investigation revealed Agarwal's laptop had been compromised. During questioning, Agarwal reportedly admitted to holding a part-time job for the past year, from which he had earned approximately Rs 15 lakh. He also confessed to using the company-issued laptop for the part-time job, which Singh alleged was a violation of company policy. 'It is suspected that he (Agarwal) may have colluded with the unknown accused and carried out the hacking,' Singh alleged in the complaint. When contacted, a company official declined to comment, stating that the matter is under investigation. Based on the complaint, a case was registered on July 22 at the Whitefield CEN police station under relevant sections of the Information Technology Act and the Bharatiya Nyaya Sanhita, including charges of theft, criminal breach of trust, and cheating by personation.
New Indian Express
31-07-2025
- Business
- New Indian Express
Staffer held for Rs 378 crore crypto theft from Bengaluru firm
BENGALURU: In a major online heist, cyber fraudsters hacked the digital wallet of Bengaluru-based Neblio Technologies Private Limited, a cryptocurrency exchange firm, and siphoned off Rs 378 crore. The Whitefield CEN police, who have registered a case, said that a company employee was arrested on suspicion of involvement in the fraud. According to the FIR filed on July 22 by Hardeep Singh, vice president of Public Policy and Government Affairs at the company, the theft occurred on July 19 around 2.30 am. The hacker initially transferred 1 USDT, a cryptocurrency, to another account. Nearly five hours later, USDT 44 million (approximately Rs 378 crore) was moved to six different accounts. The company found that the laptop of its employee Rahul Agarwal was hacked, and Rs 15 lakh was remitted to his account. When questioned, Agarwal claimed he was engaged in a part-time job, the FIR stated, adding the company strictly mandated that he was not allowed to use a laptop for other purposes. A senior police officer said that Agarwal, a resident of Sarjapur Main Road, was arrested on Sunday. Police are verifying whether Agarwal's laptop was hacked or if he himself masterminded the theft, or if there is a nexus between the arrested accused and others. He has been taken into police custody. The Whitefield CEN police have registered a case under sections 66 (computer related offences), 43 (penalty and compensation for damage to computer, computer system etc), 66(c) (indentity theft) and 66(d) (cheating by personation by using computer resource) of Information Technology Act and 303 (theft), 316 (4) (criminal breach of trust), 318 (4) (cheating), 319 (2) (cheating by personation) of BNS.
Hindustan Times
30-07-2025
- Business
- Hindustan Times
Man held for ₹384 crore cyber fraud at Bengaluru cryptocurrency trading company
A 28-year-old man was arrested in connection with an alleged cyber fraud at a cryptocurrency trading platform which led to a loss of ₹384 crore, the police said on Wednesday. The hacker transferred cryptocurrency worth USD 44 million (approximately ₹ 384 crore) to an unknown wallet.(Representational) The complaint stated that an unidentified individual hacked into the crypto wallet of Neblio Technologies Private Limited on July 19 and transferred cryptocurrency worth $44 million (approximately ₹384 crore) to an unknown wallet, according to PTI news agency. The complaint was lodged by Hardeep Singh, vice-president (public policy and government affairs) of the company. After the transfer, the assets were then moved to six different unknown wallets, PTI quoted police. Arrested man worked at the crypto trading platform The man, identified as Rahul Agarwal, who has been taken into custody by the police for further questioning, was an employee of the company, a senior police officer said. The FIR filed by the company's vice-president, Singh, stated that an internal investigation at the firm had found that Agarwal's laptop had been compromised. Following this, Agarwal was arrested and during questioning, admitted to doing a part-time job for the past year, which had earned him around ₹15 lakh. Agarwal also revealed that he had been using the company-issued laptop for the part-time job. This was in violation of the company policy, Singh said. In the complaint, the company's vice-president stated that he suspected that Agarwal might have 'colluded' with the accused person to help him carry out the hacking. A company official declined to comment on the matter, stating that the matter was under investigation. A case was registered at the Whitefield CEN police station on July 22 based on Singh's complaint under relevant sections of the Information Technology Act and the Bharatiya Nyaya Sanhita. The sections include charges of theft, cheating by impersonation, and criminal breach of trust.
Hindustan Times
30-07-2025
- Business
- Hindustan Times
In massive cyber heist, Bengaluru cryptocurrency firm loses ₹384 crore; Inside job suspected: Report
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. Bengaluru cryptocurrency firm loses ₹ 384 crore: An internal review links the breach to an employee.(Lam Yik/Bloomberg) 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. ALSO READ | Bengaluru woman held for promoting anti-India propaganda of Al-Qaeda affiliate 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. ALSO READ | Mangaluru Bharatanatyam dancer performs nonstop for 7 days, sets world record: Report 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. ALSO READ | Bengaluru woman arrested as part of Gujarat social media radicalization probe 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.
