Massive Rs 6 crore fraud done via e-wallet unearthed in Delhi; 6 suspects arrested
The money was transferred to 141 bank accounts and e-wallets using a VPN service to avoid detection by IP tracking.
- May 3, 2024,
- Updated May 16, 2024 2:54 PM IST
A businessman from Anand Vihar, Sector 32, was recently arrested in connection with a cybercrime case involving the theft of Rs 6.1 crore from a software development company's account. The money was transferred to 141 bank accounts and e-wallets using a VPN service to avoid detection by IP tracking.
Harmeet Singh Malik, identified as the alleged mastermind behind the operation, was intercepted by immigration authorities at Mumbai airport, just moments before his departure for Dubai.
Six people have been arrested in connection with the case. Last December, Kushal Singh, the director of Witzeal Technologies Pvt Ltd, reported that Rs 6.14 crore had been fraudulently taken from the company's account between December 6 and 19.
The intricate nature of the operation becomes apparent as details emerge regarding the modus operandi employed by the perpetrators. Utilizing loopholes like VPN to evade detection, the fraudulent sum was meticulously dispersed to 141 bank accounts and electronic wallets, orchestrating a sophisticated web of deceit.
Initial inquiries into the matter revealed a trail of illicit transactions, with a portion of the embezzled funds amounting to Rs 10 lakh traced to the ICICI bank account of UdaanpeInfoserve, a telecommunications company in Sector 65. The subsequent revelation that the pilfered amount was converted into USDT cryptocurrency and transferred to cryptocurrency wallets in Dubai underscores the global ramifications of such nefarious activities.
"We make transactions via payments platform. No SMS alert or email was received when the amount was debited from the company’s bank account,” the report said quoting the complainant.
As per the police, Tarun Kumar Dudeja, the former chief technology officer (CTO) of Udaanpe Infoserve, along with Karthik Sharma and his brother Yash Sharma from Hari Nagar in Delhi, and Rakesh Sharma, a suspected hawala operator from Bikaner, were arrested afterward.
Karthik, who owns a furniture shop, managed Udaanpe's bank account, and police found a debit card linked to the account in his possession. Yash has been accused of converting the stolen money into cryptocurrency and transferring it to fraudsters based in Dubai.
Police stated that Rakesh is a hawala operator and was providing bank accounts to the suspect in Dubai. They revealed that Harmeet Singh is the main person behind the fraud, operating from both India and Dubai. Harmeet was arrested at Mumbai airport on April 19 while attempting to leave for Dubai and is currently in police custody. Two more suspects, Mohit Malik and Ketan, are still being sought by the police.
This incident highlights fraudsters’ ability to pierce the security controls of payment aggregators, which has previously been used as a medium in similar fraudulent transactions. Past occurrences, including the theft of 7.38 crore from customers in 2022 and the hacking of a businessman's account resulting in the loss of 22.89 lakhs earlier this year, underscore the urgent need for stringent security protocols to safeguard against such breaches.
A businessman from Anand Vihar, Sector 32, was recently arrested in connection with a cybercrime case involving the theft of Rs 6.1 crore from a software development company's account. The money was transferred to 141 bank accounts and e-wallets using a VPN service to avoid detection by IP tracking.
Harmeet Singh Malik, identified as the alleged mastermind behind the operation, was intercepted by immigration authorities at Mumbai airport, just moments before his departure for Dubai.
Six people have been arrested in connection with the case. Last December, Kushal Singh, the director of Witzeal Technologies Pvt Ltd, reported that Rs 6.14 crore had been fraudulently taken from the company's account between December 6 and 19.
The intricate nature of the operation becomes apparent as details emerge regarding the modus operandi employed by the perpetrators. Utilizing loopholes like VPN to evade detection, the fraudulent sum was meticulously dispersed to 141 bank accounts and electronic wallets, orchestrating a sophisticated web of deceit.
Initial inquiries into the matter revealed a trail of illicit transactions, with a portion of the embezzled funds amounting to Rs 10 lakh traced to the ICICI bank account of UdaanpeInfoserve, a telecommunications company in Sector 65. The subsequent revelation that the pilfered amount was converted into USDT cryptocurrency and transferred to cryptocurrency wallets in Dubai underscores the global ramifications of such nefarious activities.
"We make transactions via payments platform. No SMS alert or email was received when the amount was debited from the company’s bank account,” the report said quoting the complainant.
As per the police, Tarun Kumar Dudeja, the former chief technology officer (CTO) of Udaanpe Infoserve, along with Karthik Sharma and his brother Yash Sharma from Hari Nagar in Delhi, and Rakesh Sharma, a suspected hawala operator from Bikaner, were arrested afterward.
Karthik, who owns a furniture shop, managed Udaanpe's bank account, and police found a debit card linked to the account in his possession. Yash has been accused of converting the stolen money into cryptocurrency and transferring it to fraudsters based in Dubai.
Police stated that Rakesh is a hawala operator and was providing bank accounts to the suspect in Dubai. They revealed that Harmeet Singh is the main person behind the fraud, operating from both India and Dubai. Harmeet was arrested at Mumbai airport on April 19 while attempting to leave for Dubai and is currently in police custody. Two more suspects, Mohit Malik and Ketan, are still being sought by the police.
This incident highlights fraudsters’ ability to pierce the security controls of payment aggregators, which has previously been used as a medium in similar fraudulent transactions. Past occurrences, including the theft of 7.38 crore from customers in 2022 and the hacking of a businessman's account resulting in the loss of 22.89 lakhs earlier this year, underscore the urgent need for stringent security protocols to safeguard against such breaches.