Mumbai, Aug. 10 -- In what has been the biggest crypto theft in India so far, cryptocurrencies worth nearly2,000 crore, or $230 million, were stolen from a wallet linked to the WazirX exchange last month. As thousands of people lost crores, WazirX reported the incident to the central cybercrime portal, Financial Intelligence Unit, and the Indian Computer Emergency Response Team. A police case was also registered in Delhi.

Pelorus Technology and Crystal Intelligence, digital forensics firms that help in probing major cyber and crypto irregularities,help us understand how the theft of this scale was executed from wallets that are secured with multi-level authentication.

Crystal Intelligence, a blockchain intelligence firm, uses a security...