Bengaluru police have arrested Rahul Agarwal, a CoinDCX engineer, for allegedly orchestrating a major crypto theft using compromised credentials.
Police in Bengaluru arrested 30-year-old Rahul Agarwal, a software engineer at CoinDCX, in connection with the theft of 3.79 billion rupees ($43.4 million) in crypto assets. Investigators allege Agarwal used his office-issued laptop credentials to access internal systems and initiate unauthorized transfers on July 19, routing the stolen assets to six wallets. Although he denied direct involvement, Agarwal admitted to freelancing for overseas clients and received suspicious communications prior to the incident. The exchange's parent company, Neblio Technologies, confirmed that customer assets remain secure and will absorb the losses. Authorities are investigating potential links to international hacking groups, including possible North Korean involvement, as investigations continue.