Indian police recently arrested an individual allegedly linked to the July cyberattack on cryptocurrency exchange WazirX, which caused losses of about $234 million.
According to a police indictment seen by Cryptonews, SK Masud Alam of West Bengal allegedly created a fake account to carry out the cyberattack. Authorities see his arrest as an important step in the ongoing investigation, helping to unravel the complicated transactions.
According to the indictment, Alam created the WazirX account under the alias Souvik Mondal. He then sold it via Telegram M to Hasan, who allegedly used it to hack the exchange.
The indictment notes that Liminal Custody, responsible for securing WazirX’s digital assets, failed to cooperate with the investigation. Previously, Liminal claimed that its initial audit reports did not confirm a breach in its user interface or user interface. Following the hack, WazirX temporarily halted withdrawals on its platform.
During the investigation, police reportedly requested key information from Liminal Custody. However, despite multiple notifications, Liminal failed to provide the requested details, raising questions about their responsibility, the report said.
The indictment said Liminal ‘ s role will be examined in an upcoming follow-up document as the case progresses.
Investigators took action against the potential misuse of multi-signature wallets, seizing three laptops from WazirX used by authorized signatories to approve transactions. The indictment reveals that WazirX fully cooperated by providing necessary data, such as KYC information and transaction records.
With the support of the Indian Cyber Crime Coordination Center (IFSO), the investigation confirmed that there was no unauthorized access to WazirX systems, either internally or externally.
