Summary: A software engineer named Shubhang Jain was arrested in Mumbai for allegedly stealing $6.67 million in cryptocurrency from his former employer, a Bengaluru-based management company. Jain had been on the run for two years after exploiting his access to the company’s digital wallets to transfer funds to private wallets he created under false identities.
Threat Actor: Shubhang Jain | Shubhang Jain
Key Point :
- Jain exploited his position at the cryptocurrency management company to steal funds over a year.
- He created fake identities and used wallets in the names of relatives to obscure the theft.
- The fraudulent activity was discovered when the company reported the theft to the police in April 2022.
Original Source: https://www.thehindu.com/news/cities/bangalore/techie-arrested-for-cryptocurrency-misappropriation/article6862571
Cyber Law and Cybercrime Investigation Blog: Immuniweb