Massive Cyber Heist in Mumbai: ₹2 Crore Digital Gold Stolen from 435 Accounts
Overview of the Cyberattack
A significant cyber heist occurred in the Prabhadevi region of Mumbai, where digital gold valued at ₹2 crore was reportedly stolen from more than 400 accounts. This incident took place on June 9 at the money management division of Aditya Birla Capital Limited. The fraud was uncovered when numerous users reached out to the company's customer service, claiming their digital gold assets had been sold without their approval. Anomalous transactions involving digital gold worth ₹1.95 crore were detected across 435 accounts. In response, Aditya Birla Capital Limited has lodged a First Information Report (FIR) regarding the incident, while several affected clients have voiced their grievances on social media.
Company's Response
Officials from the company stated that all compromised digital gold assets have been reinstated. They assured that the affected accounts are now secure and active. Furthermore, transfers from these accounts have been halted, and the security vulnerability has been addressed. An investigation is currently in progress to identify the perpetrators of the attack, with the Mumbai Cyber Police leading the inquiry. Aditya Birla Capital Digital is collaborating with its cyber insurance partners, law enforcement, and CERT-In to enhance security protocols.
Details of the Attack Methodology
The cyberattack was executed by breaching the programming interface and server of Aditya Birla Capital Digital Limited's ABCD application. The system used for OTP verification, essential for authorizing digital gold transactions, was compromised. The breach was revealed after users reported unauthorized transfers of gold from their accounts. In response, the company temporarily disabled the option to sell digital gold, and it has since been confirmed that the issue has been resolved.
Understanding Digital Gold Heists
A "Digital Gold Heist" refers to the unlawful acquisition of digital gold assets, often through cyberattacks, vulnerabilities in applications, or breaches of accounts on platforms where users can buy, store, or trade gold digitally. This type of theft can involve various tactics, including:
- Monetizing stolen digital gold
- Hacking mobile applications or platforms
- Disabling security measures such as OTP
- Transferring digital gold to fraudulent accounts