Indian police arrested SK Masud Alam, linked to the $230 million WazirX crypto exchange hack. Allegedly, Alam created a fake account under a false identity and sold it on Telegram, enabling another individual to exploit WazirX's security. The July 2024 hack targeted both hot and cold wallets, causing significant losses for the exchange and its users. Investigators reported non-cooperation from Liminal Custody, which managed WazirX's wallets, complicating the probe. Users remain locked out of their funds amid ongoing recovery efforts, as authorities focus on tracing the stolen assets and holding accountable parties involved in the breach.
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