PANews reported on November 14 that according to BeInCrypto, Indian police arrested SK Masud Alam, a resident of West Bengal, accusing him of participating in the WazirX hack. Earlier this year, the hack caused WazirX to lose more than $230 million because customers were unable to withdraw funds. Alam was accused of creating a fake account under the pseudonym of Souvik Mondal, and he allegedly sold the account to hackers through Telegram. The account was later used to attack crypto exchanges.
The Indian police complaint points to a lack of cooperation from Liminal Custody, the company responsible for securing WazirX’s digital wallet. Liminal reportedly did not provide key information despite repeated requests, raising concerns about its security measures.
Earlier in July, it was reported that WazirX was hacked and the loss exceeded US$230 million.
