Mumbai Cyberfrauds Hack into Company A/C, Siphon Rs 25 Crore: Devastating Loss in Cyberattack

Thane's Wagle Estate Shaken by Rs 25 Crore Cyberfraud: Financial Services Company Falls Victim to Sophisticated Hack Attack

In a shocking incident, cybercriminals targeted a Thane-based financial services company, operating in the Wagle Estate area, and managed to siphon off a staggering amount of Rs 25 crore from its accounts. The company, which specializes in providing payment gateway services to its customers, reported the fraudulent activity to the local police, revealing that the unauthorized transfers took place over a span of eight days, between April 14 and 22 of this year.

According to the complaint lodged by the company, the fraudsters gained access to the system of four merchants associated with the company by employing fake IP addresses, successfully bypassing security measures. The funds were then siphoned off without detection. Despite attempts by the company's technical support team to reach out to the beneficiaries, no response was received.

Investigations conducted by the police unveiled a startling revelation—the hackers had orchestrated the transfer of the stolen funds into approximately 140 bank accounts spread across the country. These accounts have now come under scrutiny as potential sources of further leads, stated an officer involved in the case. The company, in its complaint, acknowledged that a portion of the money transfer was halted through the intervention of the National Payments Corporation of India (NPCI).

Law enforcement authorities suspect the involvement of a highly skilled hacker due to the meticulous planning evident in the online heist. A case of cheating has been registered against unidentified individuals under various sections of the Indian Penal Code (IPC) and the Information Technology Act.

This incident serves as a grave reminder of the constant threat posed by cybercriminals and emphasizes the need for robust security measures to safeguard financial transactions in the digital age. The company is working closely with law enforcement agencies to track down the culprits and recover the stolen funds, while simultaneously enhancing its security infrastructure to prevent such incidents in the future.