Software engineer arrested for stealing cryptocurrency worth Rs 56 crore from Bengaluru firm

A police officer said, “He worked with the company between May 2021 and April 2022 and dealt with market analytics and finance. The employer had given access to Jain to manage the business. When the owner of the firm noticed that the cryptocurrencies were missing, the company’s CEO Akhil Gupta filed a complaint with the Subramanyanagar police on April 28, 2022”.

The case was transferred to the Cyber Crime Unit of CID. A police officer who was part of the investigation said Jain was exceptionally skilled in cryptocurrency trading and related activities. “Jain had transferred the cryptocurrencies to his relatives’ wallets and later had even withdrawn money. He used to live in luxury hotels and lived a low profile. As he moved from place to place, the police were unable to track his movements,” said the officer.

The police got a lead on July 29 this year when they skimmed through the call log of the number and found most of the calls were made to house brokers. However, it took more than a month to nab Jain as the police were waiting for him to switch on his mobile phone. They arrested Jain from Mumbai.

The police said Jain, a BTech graduate from an engineering college in Vellore, met Cipher owners on a Telegram group and attended interviews to get the job.