31.07.2025 11:03
Bengaluru police have made a significant arrest in the investigation of the massive CoinDCX cryptocurrency heist. A software engineer employed by the exchange, 30-year-old Rahul Agarwal, is now in custody, suspected of involvement in the $44 million theft that occurred in July. This arrest marks a crucial turning point in the case, offering a potential breakthrough in understanding how the breach unfolded.
The investigation linked the unauthorized transactions directly to Agarwal's company-provided laptop, the only device showing suspicious activity during internal audits. Initially, a seemingly innocuous USDT transaction raised red flags, but this quickly escalated into a significant drain of funds into six separate cryptocurrency wallets. CoinDCX responded swiftly, but the damage had already been done.
Despite denying direct involvement, Agarwal admitted to undertaking freelance work for unknown parties and receiving questionable communications—including files and messages—via WhatsApp from a German phone number. Adding fuel to the fire, a $17,000 deposit into his personal account further intensified suspicions. Authorities are now grappling with a key question: was Agarwal an unwitting participant in a remote hacking operation, or a knowing accomplice?
Currently, a thorough forensic examination of Agarwal's devices is underway. Investigators aim to determine the precise nature of the breach, pinpointing whether it stemmed from compromised credentials or represented a calculated insider attack. The outcome of this analysis will be pivotal in determining the extent of Agarwal's culpability and shedding light on the methods employed by the perpetrators.
The arrest was reported by Coindoo, a news outlet. Alexander Zdravkov, the reporter covering the story, is a seasoned crypto analyst with over three years of experience and fluency in German, making him uniquely suited to analyze this complex situation. His detailed reporting reflects his in-depth understanding of the cryptocurrency market and its evolving dynamics, providing valuable insights for readers following the CoinDCX heist.
