In a staggering cybercrime incident, Bengaluru police have uncovered a cryptocurrency fraud worth over ₹378 crore, marking it as one of Karnataka’s largest single cyber heists. The breach occurred at Neblio Technologies Pvt. Ltd., a city-based crypto trading firm.
The incident surfaced after the company lodged a complaint at the Whitefield Cyber Crime Police Station, revealing that hackers infiltrated the company’s crypto wallet, first conducting a test transfer of 1 USDT at 2:37 AM, before siphoning off 44 million USDT — over ₹378 crore — around 9:40 AM the same day.
Investigations suggest that the breach may have occurred through a laptop issued to part-time employee Rahul Agarwal, who had been associated with the company for 5–6 years. He had received ₹15 lakh as payment for his freelance work. Police believe his device was the entry point for the attackers.
Rahul Agarwal has been arrested based on technical evidence linking him to the compromised system. Authorities suspect that internal access protocols were bypassed, enabling the massive digital transfer.
Additional Commissioner Ramesh Bhanot confirmed that the hack was executed using a company system and stated, “We are now tracing the money trail and identifying others possibly involved.”
The probe continues, with law enforcement agencies focusing on tracking the cryptocurrency movement and uncovering the network behind the breach.