In a major breakthrough, Bengaluru police have arrested Rahul Agarwal, the key accused in what is being termed the city’s biggest cyber fraud to date. The scam involved a staggering ₹384 crore being siphoned off from a cryptocurrency firm, Nebilo Technologies Pvt. Ltd.
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The high-stakes heist occurred in two phases on the same day. At around 2:37 AM, the accused transferred 1 USDT from the company’s crypto wallet to another wallet as a test transaction. Later, at 9:40 AM, he re-entered the compromised server and transferred 44 million USDT, amounting to ₹384 crore, into another wallet.
Rahul Agarwal, who was a part-time employee at Nebilo Technologies, allegedly used a company-issued laptop to execute the hack. Despite earning ₹15 lakh during his tenure, he exploited internal systems to breach the company server.
Nebilo Technologies, a reputed name in India’s cryptocurrency sector, conducted an internal audit and promptly filed a complaint with the Whitefield Cyber Crime Police Station. Based on digital forensics and server logs, police tracked and arrested Agarwal, bringing the massive cybercrime to light.
The arrest has sent shockwaves across the tech industry, highlighting vulnerabilities even in high-security sectors like cryptocurrency. Authorities are continuing their investigation to trace the stolen funds and identify any possible accomplices.
The case stands as a stark reminder of the growing sophistication in cybercrime and the need for robust digital security systems.