In a surprising development that has sent ripples through the crypto fraternity, Indian government agencies are waging war against the massive WazirX hack. This waged cyberwar is in cooperation with the Financial Intelligence Unit (FIU), Intelligence Bureau (IB), and the Indian Computer Emergency Response Team (CERT-In), given the approximate $235 million (Rs 2000 Crore) worth of digital tokens that were stolen from the WazirX exchange on July 18.
The Mumbai office of the cryptocurrency exchange WazirX has in the last two weeks been receiving: Up to eight and ten dedicated employees and its founders making numerous attempts to comprehend how outside aggression was instigated. To find out how the culprits of this attack planned its future steps and how it was possible for so many cryptocurrency tokens to be withdrawn from the Exchange’s wallets.
The process of the investigation is still at the preliminary stage, however, WazirX is not ruling out an act of sabotage. As of now, very few tangible leads have emerged to substantiate this claim.
The FIU functions as an important agency that investigates any suspended financial transactions and is within the organizational structure of the Ministry of Finance. However, the IB, which is a body within the Home Ministry, is involved with internal security and counter-espionage. CERT-In performs the role of the bangs of government dealing with any form of cyber threat.
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