India arrests key suspect in $230 million WazirX hack

Indian police have arrested SK Masud Alam, a resident of West Bengal, accusing him of involvement in the WazirX hack. Earlier this year, the hack caused WazirX to lose more than $230 million as customers were unable to withdraw their funds. Alam is accused of creating a fake account under the pseudonym Souvik Mondal, which he allegedly sold to hackers via Telegram. The account was later used to attack crypto exchanges. The Indian police's allegations point to a lack of cooperation from Liminal Custody, the company responsible for securing WazirX's digital wallets. Liminal reportedly did not provide key information despite repeated requests, raising concerns about its security measures. Earlier in July, WazirX was hacked and the loss exceeded $230 million. (BeInCrypto)