Indian police have arrested a suspect in connection with a massive hack of the WazirX exchange that occurred nearly four months ago and resulted in the loss of over $230 million in cryptocurrency.

- The suspect, SK Masud Alam, allegedly created a fake account on WazirX and sold it via Telegram to his accomplice M. Hassan, who then used it to attack the exchange’s cryptocurrency storage system.

- An investigation by IFSO found that the suspects had compromised WazirX’s hot wallet and attempted to attack WazirX’s cold wallet.

- WazirX fully cooperated with the police, providing KYC data and transaction logs, while Liminal Custody was criticized for its lack of transparency.