The arrest of SK Masud Alam, a resident of West Bengal, by the Delhi Police is a major highlight concerning the ₹2,000 crore hack on the cryptocurrency exchange WazirX.
Arrest of Masud Alam
The Special Cell of the Delhi Police managed to capture Masud Alam, a resident of East Midnapore in West Bengal, as part of the investigation into the massive cyberattack on the cryptocurrency exchange WazirX. Alam gained prominence for this attack, which exposed significant vulnerabilities in digital asset security.
Use of a Fake Account
The chargesheet states that Alam had an account on WazirX made under the name Souvik Mondal, which he then sold to M. Hasan using Telegram. The cyberattack was subsequently conducted using this account. The police suspect that Alam is involved with a broader network of cybercriminals and continue to investigate his connections.
Cooperation in Investigation
Another point brought up in the chargesheet is the supposed lack of cooperation by Liminal Custody, the company responsible for safeguarding WazirX’s digital wallets. Despite numerous notifications, Liminal Custody allegedly did not provide vital information required for the inquiry, complicating efforts to determine the full scope of the hack. Meanwhile, WazirX has been cooperative, providing crucial information including KYC records and transaction logs.
Users have found themselves in a predicament post the hack, being unable to withdraw funds. With the latest developments in the investigation, there is hope for recovering the funds and resolving the issue.
