WazirX Hack: Indian Authorities Arrest Suspect in $230 Million Theft

• SK Masud Alam has been arrested for alleged reference to WazirX exploit.
• A chargesheet said that Alam arrange a faux account on WazirX. 
• Alam then offered the faux account to M Hasan on Telegram, who carried out the hack.

The Delhi Police in India arrested a suspect in reference to the $230 million hack of Indian cryptocurrency change, WazirX. The suspect, SK Masud Alam, is accused of making a faux account used within the July cyberattack. This arrest marks a major growth within the ongoing investigation. Authorities consider Alam created the account below a false identify after which offered it to a different particular person who executed the hack.

As per a chargesheet filed by the Delhi Police, Alam is suspected of making a brand new account on WazirX below the identify Souvik Mondal. The authorities consider that the suspect then offered the account to a different particular person, M Hasan, who is taken into account to be the one that carried out the precise cyberattack on the Indian crypto change. 

The chargesheet additionally highlighted the non-cooperation of Liminal Custody, an institutional digital asset custody platform, which was liable for securing WazirX’s wallets. The investigation is being performed by Delhi Police’s Intelligence Fusion and Strategic Operations (IFSO) division because the hunt for the one that attacked WazirX’s scorching pockets continues.

Liminal Custody Fails to Present Solutions

As per the chargesheet, the authorities requested for essential info from Liminal Custody however the agency did not current the data regardless of a number of notices. The dearth of communication from the corporate has raised questions relating to its custodial companies and safety features. 

The police said that because the investigation progresses, Liminal’s function can be additional addressed in a supplementary chargesheet. To analyze the incident, three laptops have been seized from WazirX. These laptops have been used for signing the transactions from the change’s multisig wallets.