Maharashtra: Man loses ₹12 lakh as cryptocurrency account hacked | Mint – Mint

  • An unidentified person allegedly hacked the cryptocurrency account of a 37-year-old man and siphoned off $15,097, worth about 12 lakh

A man lost 12 lakh in Maharashtra after an unidentified man hacked a cryptocurrency account. The incident was reported in Maharashtra’s Thane City.
As per the PTI news agency reported an unidentified person allegedly hacked the cryptocurrency account of a 37-year-old man and siphoned off $15,097, worth about 12 lakh.
The incident took on November 1, 2022, but the man complained to the police last week, an official from Srinagar police station said. Based on the complaint, the Srinagar police here registered a case on Saturday against an unidentified person under Indian Penal Code Section 420 (cheating) and provisions of the Information Technology Act.
The victim, a resident of Kandivali in neighbouring Mumbai, had come to Thane for some work on November 1 when someone allegedly hacked his crypto account online and siphoned off the amount.
The victim did not give any reason for registering the complaint after two months, the police said, adding they were conducting a probe into the case.
Meanwhile, data from blockchain analytics firm Chainalysis showed that illicit use of cryptocurrencies hit a record $20.1 billion in 2022 as transactions involving companies targeted by US sanctions skyrocketed.
The cryptocurrency market floundered in 2022, as risk appetite diminished and various crypto firms collapsed. Investors were left with large losses and regulators stepped up calls for more consumer protection.
Even as overall crypto transaction volumes fell, the value of crypto transactions related to illicit activity rose for the second year running, Chainalysis said.
Transactions associated with sanctioned entities increased more than 100,000-fold in 2022 and made up 44% of last year’s illicit activity, Chainalysis said.
The volume of stolen crypto funds rose 7% last year, but other illicit crypto transactions including those related to scams, ransomware, terrorism financing and human trafficking, saw volumes fall.
Chainalysis said its $20.1 billion estimate only includes activity recorded on blockchain and excludes “off-chain” crimes such as fraudulent accounting by crypto firms.
Download the Mint app and read premium stories
Log in to our website to save your bookmarks. It’ll just take a moment.
You are just one step away from creating your watchlist!
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
Your session has expired, please login again.
You are now subscribed to our newsletters. In case you can’t find any email from our side, please check the spam folder.
This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp

source

Image - ThumbHow To Make Huge Profits In A Short Time With Crypto
Get detailed training system that shows an absolute beginner (without any skill) how to make huge profits in a short time with crypto.
Image - ThumbCrypto + NFT Quick Start Course
The #1 course for profit in the Crypto & NFT world - You will discover the secrets that 99% of people don’t know yet

About the Author: admin

You might like

Leave a Reply

Your email address will not be published. Required fields are marked *