The reports combine the recent attack on the exchange of Indian crypto coindxc with one of the employees of the platform.
Meanwhile, the Exchange Coinbase would be in talks to acquire the Indian platform. Coinbase capitalized on the drop in the value of Coindcx to advance its foray into the Asian country.
Coindxc employee, Rahul Agarwal, arrested following $ 44 million in cryptography flight
Local media report that Rahul Agarwal, software engineer at Coindcx, was arrested following the recent attack on the platform.
The attack resulted in losses worth $ 44 million after bad players compromised its internal portfolio.
It seems that the surveys have revealed that the authors used agarwal connection identification information to access the system, siphoning the loot.
Based on this, Agarwal has become the main suspect when surveys were continuing. Police in the city of Bengaluru have since arrested him. Neblio Technologies, which manages the Coindcx exchange, is the complainant in the case.
“Rahul was on the permanent lists of the company and he had received a laptop strictly for office work. He fell under the scanner after the company discovered that an unknown person had hacked the system at 2.37 am on July 19 and transferred a USDT to a portfolio. Vice-president of NEBLIO for public Hardeep Singh policy.
With the authorities in detention of the agarwal laptop, the suspect claims innocence but admits the moonlight and the work with several private celebrations without investigating their references.
Nevertheless, the authorities discovered that nearly $ 20,000 (15 Lakh rupees) had been given to the agarwal bank account from an unknown source.
In addition, Agarwal said that a German number had contacted him to work on several files. According to the suspect, one of these files may have been the Trojan horse, giving attackers access to his system.
Some users have sympathized with Agarwal, calling the victim, in the middle of the growing risks concerning the theft of identification information.
“In this case … he is the victim, not the villain. The identification flight is real – just like the gaps in the access controls. Correct the system, not only blame the user,” said a user on X.
However, Sleuth Zachxbt, a blockchain investigator, called the software engineer for this negligence.
Meanwhile, the co-founder and CEO of Coindcx, Sumit Gupta, refused to comment, which is a normal response when an investigation is always open.
However, GUPTA revealed that the incident involved an attack in social engineering, where bad players target company employees to obtain illegal access to the internal systems of an organization.
“We understand, at this stage, the organizations responsible for the application of laws are investigating the question to follow and trace the pirates responsible for the attack,” said Gupta.
With the current surveys, this incident highlights the abundant risks that hackers put in cryptographic and financial markets in general. It also provides for improved security and vigilance so as not to click on suspicious links.
Coinbase exchange would be in talks to acquire Coincdx, signaling a strategic thrust on the cryptography market at the rapid rhythm of India.
The expression of interest was appropriate, given the evaluation of Coindcx fell below $ 1 billion after a hacking of $ 44 million.
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