In a major breakthrough, Delhi Police have arrested SK Masud Alam from West Bengal in connection with the cyberattack on the crypto exchange WazirX. The hack cost investors over $230 million in investments.
Delhi Police Arrests Bengal Man tied to the WazirX hack
Indian Police’s recent arrest of SK Masud Alam marks a breakthrough in the WazirX hack investigation. According to a chargesheet issued by the Delhi Police, Alam is accused of opening a WazirX account under the name Souvik Mondal and selling it through Telegram to another man, M Hasan, who then reportedly used it to hack into the crypto exchange.
The charge sheet further stated that Liminal Custody, a digital asset custody solutions provider responsible for securing WazirX’s wallets, did not cooperate in the case. Indian authorities continue to probe Alam’s connections, believing that this may be part of a larger network of cyber criminals.
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During the investigation, the Delhi Police seized three laptops from WazirX used by authorized signatories to approve transactions via multi-sig wallets. The authorities also verified that WazirX has completely cooperated with the investigation, giving critical information such as KYC details and transaction logs to help recover the stolen crypto assets.
In addition, the police have noted no evidence of unauthorized access to WazirX’s systems, either locally or remotely. This suggests that the breach was an inside job run by the compromised accounts.
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As the investigation continues, Liminal Custody’s lack of cooperation remains a major issue, potentially jeopardizing efforts to track down the culprits behind the crypto hack. Authorities are looking to identify the other persons involved and figure out the full extent of the cyberattack.
