Indian police have arrested a suspect in connection with the WazirX hack, which resulted in more than $230 million in cryptocurrency losses. The arrested person, SK Masud Alam, a resident of West Bengal, was accused of creating fake accounts under aliases and selling them to hackers via Telegram. The account was then used to conduct illegal operations on the cryptocurrency exchange WazirX.

This incident is another reminder of the security issues of cryptocurrency transactions. Despite the increasing maturity of blockchain technology, security vulnerabilities still exist. Investors need to remain vigilant and ensure the safety of their assets. 🔒