On July 26, Bengaluru authorities detained Rahul Agarwal, a 30-year-old software developer at CoinDCX, in relation to a $44 million (₹379 crore) cryptocurrency theft from the exchange's internal wallet. He had been employed at CoinDCX for over two years.
The robbery started on July 19 with a trial transfer of 1 USDT at 2:37 a.m. Hackers, using login details taken from Agarwal's company-assigned laptop, moved approximately $44M into six different wallets by early morning.
Investigators state that Agarwal had been working as a freelancer for unidentified clients through WhatsApp—including instructions from a German phone number—and confessed to receiving a ₹15 lakh (~$17K) deposit. Authorities claim that malware was employed to breach his device.
CoinDCX's parent company, Neblio Technologies, has assured that no customer funds were lost, as the compromised wallet was distinct from user accounts. The exchange also offered a reward of up to $11M for information that could help recover the stolen assets.
