New Delhi, November 14
The Delhi Intelligence Fusion and Strategic Operations (IFSO) has arrested an individual in connection with the ‘Wazirx’ a cryptocurrency exchange firm which resulted in losses of around Rs 2,000 crore in digital assets.
The accused has been identified as SK Masud Alam from West Bengal, had set up a fake account to facilitate the cyberattack.
The cyber criminals allegedly drained WazirX's hot wallet, followed by an attempt on the cold wallet, which holds funds offline with added security measures.
Delhi Police attempted to gather crucial information from Liminal Custody. Despite multiple notices, the chargesheet reveals that Liminal failed to provide requested details, raising questions regarding its security protocols and accountability.
The probe showed misuse of multi-sig wallets (using multiple keys to authorise bitcoin transactions). the investigators seized three laptops from WazirX that were used by authorised signatories for approving the transactions.
The investigation, supported by the Indian Cyber Crime Coordination Centre (IFSO), found no evidence of unauthorised access to WazirX's systems, officials further added.
