Bengaluru, July 30 — In what is being described as one of India’s biggest cryptocurrency heists, Neblio Technologies Private Limited — the company behind the digital asset platform CoinDCX — has reported a massive loss of ₹384 crore following a cyberattack suspected to have been an inside job, according to The Indian Express.
The breach was reported to authorities on July 22 by Hardeep Singh, Vice-President of Public Policy and Government Affairs at Neblio. In his complaint, Singh stated that the unauthorized access occurred in the early hours of July 19, during which hackers infiltrated the firm’s cryptocurrency wallet and transferred the equivalent of $44 million (around ₹384 crore) into six separate accounts.
An internal probe revealed that the system compromise may have originated from within the company. A key suspect is Rahul Agarwal, an employee whose company-issued device was allegedly misused to facilitate the breach.
Investigators found that Agarwal received ₹15 lakh in his bank account, raising further suspicion. His device, strictly intended for official work, was found to have been used for unauthorized activities. When questioned, Agarwal reportedly claimed he had been engaged in a part-time job alongside his role at Neblio.
“This is a severe breach of trust and corporate security,” a source close to the investigation said. “We are cooperating fully with law enforcement agencies to ensure all parties responsible are brought to justice.”
The company has not yet issued a public statement on the full extent of the damage or its efforts to recover the stolen funds. Authorities are continuing to trace the digital trail of the stolen cryptocurrency across wallets and exchanges.
The breach underscores growing concerns about cybersecurity in India’s booming crypto sector, particularly as digital assets continue to draw increased investment and scrutiny.
