According to several local reports, an employee of Coindcx, a Cryptocurrency Exchange, which was hacked for $ 44 million, was arrested in India in connection with security violations.
The Bengaluru City Police detained CONDCX software engineer Rahul Aggarwal after the Hackers allegedly managed to compromise their login credentials to cord the Times of India, The Times of India. Informed On Thursday.
The arrest followed a complaint and internal investigation by Coindcx operator Neblio Technologies, which determined that Aggarwal’s credentials were compromised through their work laptops, allowing unauthorized access to the company’s servers.
During his interrogation as his laptop, 30 -year -old Aggarwal refused to participate in crypto theft, but accepted part -time work for four private customers, while still working in COINDCX.
“Refined social engineering attack”
Coindcx refused to confirm or refuse Agarwal’s arrest for cointelegraph, referring to an X post by Coindcx co-founder and CEO Sumit Gupta, who told the public on Thursday that the exchange could not engage with the media between the ongoing investigation.
“Based on our internal initial findings, it appears to be a sophisticated social engineering attack,” Gupta said, saying that employees are often targeted in such attacks.
“We urge the media and the public to avoid the circulation of speculation or unacceptable information, as it can disrupt the ongoing investigation.”
Aggarwal’s professional background
According to The Times of India, Bangalore Police of Bangalore Police, citing the vice -president of the Nablio for public policy, cited Hardip Singh, saying that the arrested employee was a permanent staff member and was strictly issued for his role in COindcx.
Nelaio came to know that an unknown person had hacked the system during the night on 19 July and transferred 1 USDT (USDT) Stablecoin to a wallet. Later that morning, hackers transferred $ 44 million and transfer the fund to six wallets.
According As Aggarwal for a LinkedIn profile, the arrested Coindcx employee was with coindcx for two years, making his career in Devops Domain.
He started as a senior software engineer in May 2023, worked far from Bangalore, Karnataka. In this role two years later, she was promoted as Staff Engineer in April 2025, a position she currently placed and performs on the site.
Connected: Coindcx denied that it is in conversation acquired by Coinbase
According to Indian Express, police officers said hackers Cheated Aggarwal in installing malware on his office laptop.
Coindcx CEO Gupta said that the news was hacked on July 19.
He said that no user funds were affected by fund exploitation, saying that hackers compromised one of the internal accounts of coindcx used for “liquidity provision” with another exchange through the server breech.
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