CoinDCX Engineer Arrested for $43.4 Million Crypto Theft in Bengaluru
Bengaluru police arrested a CoinDCX software engineer, Rahul Agarwal, for the theft of ₹3.79 billion ($43.4 million) in crypto assets from the exchange last month. The breach occurred on July 19 when Agarwal's laptop credentials were allegedly used to access CoinDCX’s internal systems and initiate unauthorized transfers.
- Agarwal is 30 years old and denied direct involvement in the theft.
- He admitted to freelancing for overseas clients, receiving a ₹1.5 million deposit and a call from a German number shortly before the incident.
- Investigators are examining if malware or credential misuse contributed to the hack.
- CoinDCX confirmed that all customer assets are secure and will cover the losses from its treasury.
- Authorities are investigating potential links to international hacking groups, including possible North Korean involvement.
The stolen funds have not been recovered, and investigations are ongoing.