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Hackers stole Rs. 384 crore from Bengaluru-based crypto firm Neblio Technologies by breaching its digital wallets. The cybercrime unit is investigating the high-profile theft, one of India’s biggest in the crypto space. Authorities are analyzing blockchain data to trace the culprits and recover the stolen funds.

In what can be considered as the largest cyber attack on an Indian cryptocurrency firm, Bengaluru-based Neblio Technologlies Private Limited has been robbed off Rs. 384 crore due to alleged hacking. The firm is the parent company of cryptocurrency exchange platform CoinDCX. The company claims that someone hacked into Neblio’s wallet to transfer cryptocurrency worth $44 million (approximately Rs. 384 crore). An employee named Rauhl Agarwal is at the centre of this investigation as it was his laptop that was hacked to make the alleged transfer.

The incident is currently under investigation by cybercrime authorities. The theft came to light when Hardeep Singh, Vice-President, Public Policy and Government Affairs, Neblio Technologies, discovered that the company's wallet was hacked. Cryptocurrency worth Rs. 384 crore ($44 billion) was transfered to six different accounts at around 2.37am on July 19.

An internal probe by the company revealed that the laptop of an employee, Rahul Agarwal, had been compromised. Investigators found Rs. 15 lakh had been transferred to Agarwal’s personal account. When questioned, Agarwal claimed he was doing a part-time job.

Singh stated in his complaint that the laptop provided to Agarwal was strictly for official use and that the employee had been clearly instructed not to use it for any other purpose. Police sources said Singh suspects Agarwal may have colluded with unidentified individuals to carry out the hack.

A Neblio spokesperson told The Indian Express, “As the matter is currently under active investigation by the relevant authorities, we are unable to share further details at this point to ensure the integrity of the process is not compromised. We urge the media and the public to avoid speculation or the circulation of unverified information, as it may impede the ongoing investigation.”

Police are continuing to investigate the cyber heist, which is among the largest cryptocurrency thefts reported in India. This breach highlights the increasing vulnerability of crypto firms to high-stakes cyberattacks amid rising adoption.