13th October 2023, Mumbai: In a shocking incident of cybercrime, a corporate health firm in Maharashtra fell victim to a sophisticated cyber scam by an international hacker. The hacker, appeared as the corporate communications manager of a Singapore-based firm interested in investing in the company, managed to deceive the firm’s owner into revealing valuable information and ultimately extort off more than Rs 2 crore from the complainant’s cryptocurrency wallet. This incident sheds a deep light on the growing cybercrimes within the country.
Details of the Scam:
The owner of the victim health company, who also happens to be a chartered accountant, reported the fraudulent incident to the Maharashtra Cyber police station. An investigation is underway to determine how the complainant’s cryptocurrency details were compromised. It is believed that the hacker contacted the firm via Telegram and requested specific information while sending a seemingly harmless link. Unfortunately, when the complainant clicked on the link, it resulted in the unauthorized transfer of Rs 2.20 crore from the cryptocurrency wallet.
The Fraudster carried the scam through Telegram
The fraudster had been actively monitoring the health company’s search for investors, and a Singaporean firm named Khyber Ventures had expressed interest in investing. The firm was under the radar of the scammer and the fraudster established an electronic contract between the two parties, facilitated by an individual named Luthe Lui. According to the contract, Khyber Ventures intended to invest $2.49 lakh, equivalent to Rs 2 crore, which was duly deposited into the complainant’s company’s cryptocurrency wallet.
On June 18, the hacker, pretending to be the corporate communications manager of Khyber Ventures, contacted the complainant’s company through Telegram and requested an online meeting regarding the investment. Two days later, an individual named Jenny Kyber, purportedly from Khyber Ventures, sent a link via Telegram. Unknowingly, the complainant clicked on the link, only to witness the transfer of funds invested by Khyber Ventures as well as a significant amount from their own account. In total, an equivalent of Rs 2.20 crore was siphoned off by unidentified fraudsters.
The Need for awareness in the cyber world
Cybersecurity experts highlight the urgency and emerging sophistication of phishing scams that manipulate unsuspecting individuals into revealing sensitive personal and financial information. Despite numerous advisories cautioning against clicking on suspicious links, people continue to fall prey to these orchestrated schemes. Such scams pose a significant threat to businesses and individuals, compromising not just financial assets but also sensitive data.
Maharashtra’s Cyber Authorities And their Efforts
This scamming incident of Maharashtra’s corporate health firm which got defraud of over Rs 2 crore serves as a stark reminder of the dangers posed by cybercrime. Authorities must continue to investigate such cases, while creating awareness among the public to prevent falling victim to these ever-evolving cyber scams.
By Harsh Rathod