WazirX Hack: Indian Authorities Arrest Suspect in $230 Million Theft

• SK Masud Alam has been arrested for alleged connection with WazirX exploit.
• A chargesheet stated that Alam set up a fake account on WazirX. 
• Alam then sold the fake account to M Hasan on Telegram, who carried out the hack.

The Delhi Police in India arrested a suspect in connection with the $230 million hack of Indian cryptocurrency exchange, WazirX. The suspect, SK Masud Alam, is accused of creating a fake account used in the July cyberattack. This arrest marks a significant development in the ongoing investigation. Authorities believe Alam created the account under a false name and then sold it to another individual who executed the hack.

As per a chargesheet filed by the Delhi Police, Alam is suspected of creating a new account on WazirX under the name Souvik Mondal. The authorities believe that the suspect then sold the account to another individual, M Hasan, who is considered to be the person who carried out the actual cyberattack on the Indian crypto exchange. 

The chargesheet also highlighted the non-cooperation of Liminal Custody, an institutional digital asset custody platform, which was responsible for securing WazirX’s wallets. The investigation…

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