WazirX Hack: Indian authorities arrest suspect in $230 million theft

• SK Masud Alam was arrested for alleged reference to WazirX exploitation.
• The indictment alleged that Alam arrange a faux account on WazirX.
• Alam then bought a faux account to M Hasan on Telegram who did the hack.

Delhi Police in India have arrested a suspect in reference to the $230 million hack of Indian cryptocurrency change WazirX. Suspect SK Masud Alam is accused of making the faux account used within the July cyber assault. The arrest marks a major advance within the ongoing investigation. Authorities consider Alam created the account below a faux title after which bought it to a different one that carried out the hack.

Based on the cost sheet filed by the Delhi Police, Alam is suspected of making a brand new account on WazirX below the title Souvik Mondal. Authorities consider the suspect then bought the account to a different individual, M Hasan, who’s believed to be the one who carried out the precise cyber assault on the Indian crypto change.

The indictment additionally highlighted the non-cooperation of Liminal Custody, the institutional digital asset custody platform that was accountable for securing WazirX wallets. The investigation is being performed by the Intelligence Fusion and Strategic Operations (IFSO) division in Delhi, whereas the hunt for the one who attacked the WazirX sizzling pockets is on.

Liminal Custody can not present solutions

Based on the indictment, authorities requested essential data from Liminal Custody, however the agency failed to offer that data regardless of a number of warnings. A scarcity of communication from the corporate has raised questions on its jail providers and security measures.

Police stated Liminal's function will probably be additional addressed in an extra cost because the investigation progresses. Three laptops had been seized from WazirX to analyze the incident. These notebooks had been used to signal transactions from the change's multisig wallets.