Daijiworld Media Network – Bengaluru

Bengaluru, Jul 31: In a shocking cybercrime case emerging from Bengaluru, a 28-year-old employee has been arrested for allegedly hacking into the cryptocurrency wallet of Neblio Technologies Private Limited and siphoning off digital assets worth a staggering Rs 384 crore.

According to police sources, the accused, Rahul Agarwal, an employee of the company, was arrested following an internal probe and subsequent complaint filed by Hardeep Singh, vice president (Public Policy and Government Affairs) at Neblio Technologies. Singh approached the Whitefield CEN police station on July 19, reporting that an unidentified hacker had breached the company's crypto wallet and transferred digital currency worth US $44 million (approximately Rs 384 crore) to an unknown destination.

The FIR was officially registered on July 22 under various sections of the Indian Penal Code and the Information Technology Act, including charges of theft, criminal breach of trust, and cheating.

During the initial stages of the investigation, suspicion fell upon Agarwal after it was discovered that his company-issued laptop had been compromised. Upon interrogation, Agarwal confessed to using the same laptop for a part-time job last year through which he earned approximately Rs 15 lac — an act that violates company policy, Singh noted in his statement.

"There is suspicion that Rahul Agarwal might not have acted alone and may have collaborated with unknown individuals to carry out the hack," Singh stated in the complaint.

A senior police official confirmed, “We have arrested the suspect and are questioning him. Preliminary findings indicate a major breach resulting in losses to the tune of Rs 384 crore.”

Authorities are now working to trace the digital trail of the stolen cryptocurrency and identify possible accomplices in what is shaping up to be one of the largest cyber thefts reported in the Indian crypto space.

Further investigations are underway.