MUMBAI: In a major cybercrime incident that has sent shockwaves through the city, unidentified hackers successfully infiltrated the escrow bank account of a Thane-based company, resulting in a staggering loss of approximately Rs 25 crore.
Escrow accounts, typically held by third parties, serve as temporary repositories during transaction processes between two parties.
The Thane Cyber Cell, responsible for investigating the case, revealed that the hackers managed to breach the payment gateway of the targeted company, gaining access to its database. By manipulating the database, the cybercriminals significantly increased the wallet balances and utilized merchant credentials to log into the company’s portal. Subsequently, they executed multiple transactions to various bank accounts.
“Through their nefarious activities, the hackers illicitly gained control over the company’s well-known national bank escrow account, transferring around Rs 25 crore to multiple unknown accounts,” stated an official from the Thane Cyber Cell.
Authorities in Thane initially became aware of the incident on April 14 when the company’s employees noticed discrepancies in their debit and credit accounts.
“After conducting a thorough investigation, the company’s officials determined that their financial portal had been hacked,” explained a police officer. “The culprits managed to breach the system of the company’s financial portal, surpassing the wallet balance limit and utilizing merchant keys to conduct numerous financial transactions across various unidentified accounts.”
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This fraudulent scheme was executed by the hackers again on April 21 and April 22, further exacerbating the financial losses suffered by the company.
An officer from the Shrinagar police station revealed, “The hackers established four fictitious companies, exploiting them as conduits to transfer funds from the targeted company’s escrow bank account to numerous undisclosed account holders. Some of these transactions were halted following the report filed with the National Payment Corporation of India (NPCI). Unfortunately, a significant portion of the fraudulent transactions had already been completed.”
The Thane police, along with the Cyber Cell, are now intensifying their efforts to identify and apprehend the perpetrators behind this audacious cyber heist. The investigation aims to uncover the full extent of the breach, ascertain any potential vulnerabilities, and implement robust measures to prevent similar incidents in the future.
KEY HIGHLIGHTS
- Unknown hackers orchestrated one of the largest cyber heists in Thane, siphoning off approximately ₹25 crore from a company’s escrow bank account.
- The hackers successfully breached the payment gateway of the targeted company, manipulating its database to increase wallet balances and gain access to the company’s portal.
- Utilizing merchant credentials, the cybercriminals executed multiple transactions to various unidentified bank accounts.
- The fraudulent activities took place on April 14, April 21, and April 22, with the hackers transferring funds through the company’s escrow bank account to several unknown account holders.
- Some transactions were halted after being reported to the National Payment Corporation of India (NPCI), but a significant portion had already been completed by then.
- Thane Cyber Cell and local police authorities are actively investigating the case, aiming to identify and apprehend the perpetrators.
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