Glitch drains Rs.40cr from e-wallet firm
Gurugram, Sept. 17 -- At least 2,500 bank accounts across the country have been frozen after a software security breach at an e-wallet firm allowed users to transfer money without balance, leading to the syphoning of at least Rs.40.22 crore, Gurugram police said on Tuesday.Officials said a process is underway to form a special investigation team (SIT) to probe the large-scale fraud in which the firm suffered a hefty financial loss. The breach allowed users to transact "any desired amount even if it was unavailable in the wallet."
Police in Gurugram, Nuh and Palwal have issued advisories warning people not to exploit the loophole, cautioning that doing so would invite legal action.
Six men were arrested from Palwal and Nuh on Monday after it emerged that they had transferred Rs.2.5 crore into their accounts by exploiting the bug. The suspects were identified as Mohammad Shakil of Uttawar (Palwal), Mohammad Rehan of Rewasan, Waqar Yunus, Mohammad Amir, and Mohammad Ansar of Kameda, and Wasim Akram of Madoda, all in Nuh. As per police, for every false transaction, the money was getting deducted from the main account of the firm linked to the dashboard for maintaining the e-wallets....
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