Bengaluru Police Uncover Major International Cybercrime Operation
Bengaluru’s Central Crime Branch (CCB) has successfully taken down a significant international cybercrime syndicate, exposing an elaborate hacking scheme that drained ₹47 crore (around $5.6 million) from Wisdom Finance Pvt. Ltd. in an astonishingly short time frame of just two and a half hours. Authorities have apprehended two individuals linked to the operation, with the main culprits believed to be operating out of Dubai.
Massive Financial Breach Unfolds
The financial heist took place on the night of October 6, as cybercriminals infiltrated the systems of Wisdom Finance and executed a staggering 1,782 unauthorized transactions in a mere two and a half hours. The stolen money was swiftly directed into 656 separate bank accounts scattered across India.
A senior manager from Wisdom Finance filed a complaint, revealing that these transactions did not originate from the company’s official system or recognized IP addresses. Instead, investigations traced the unauthorized access back to foreign IP addresses, particularly from regions like Hong Kong and Lithuania.
City Police Commissioner Seemant Kumar Singh remarked, “This incident marks a groundbreaking case for the CCB team. We have gathered details about the perpetrators based in Dubai, and efforts are ongoing to apprehend them.” In addition, police reported a partial recovery of ₹10 crore (approximately $1.2 million) from the misappropriated funds.
Local Collaborators Bring Down the Syndicate
Investigation efforts by the Cyber Crime Wing led to the arrest of two individuals in India, who acted as facilitators for the cybercrime operation. The first suspect, Sanjay Patel, a 43-year-old plumber from Udaipur, Rajasthan, allegedly supplied “mule accounts” to launder the stolen funds for a commission. Authorities found Patel after noticing a suspicious transfer of ₹27,39,000 (about $33,000) to a State Bank of India account registered in his name.
Further inquiries revealed a second sizable transfer of ₹5.5 crore (approximately $650,000) from Wisdom Finance to a Hyderabad-based company identified as “Unknown Technologies Pvt. Ltd.” This amount was later routed through another individual’s private bank account.
The transfers were traced back to IP addresses linked to Webyne Data Centre, which led to the identification of Ismail Rasheed Attar, a 27-year-old digital marketing executive from Belagavi. Attar had purchased the IP addresses utilized in the operation and was arrested shortly thereafter.
Dubai-Based Planners Hire Global Hackers
Investigations revealed that two masterminds based in Dubai orchestrated the cyberattack. They reportedly rented five servers using the IP addresses purchased from Attar and enlisted hackers from Hong Kong to breach Wisdom Finance’s API systems. Taking advantage of known security vulnerabilities, these hackers managed to circumvent the company’s internal defenses and initiated the massive fund transfer.
The CCB suspects that these Dubai-based operatives communicated via encrypted platforms and utilized cryptocurrency to compensate their hired hackers. The stolen funds were rapidly funneled through numerous mule accounts, adding layers of complexity that challenge tracking efforts.
While the arrested individuals are believed to be lower-tier operatives, the evidence collected—including IP logs, banking transaction records, and communications—has provided valuable leads regarding the larger network of the cybercrime operation.
Global Collaboration Against Cybercrime
The Cyber Crime Wing continues its collaboration with international law enforcement agencies in an effort to locate the key players involved in this operation and to recover the remaining missing funds. Officials highlighted the increasingly global and organized nature of cybercrime syndicates that exploit advanced technology and the anonymity offered by the digital realm.
Law enforcement officials have also issued an advisory to businesses, recommending tighter cybersecurity measures, especially for those handling extensive online transactions. They urged financial institutions to adopt more stringent monitoring tools to identify suspicious activities, particularly during late-night hours when breaches are most prevalent.
