Ahmedabad: Cybercriminals hacked the server of a digital payment service provider and siphoned off Rs 43.5 lakh from its wallet by accessing API credentials stored on the server. The owner of the business filed a complaint with cybercrime police on Monday, saying the fraud came to light on Sep 26 after a retailer reported that transactions through the company’s app were failing.
The complainant said his company had around 250 retailers using the application for services such as money transfers, mobile recharges, electricity bill payments and FASTag transactions. Under its arrangement with the API service provider, individual transaction requests of up to Rs 25,000 were accepted and debited from the wallet. The businessman said he had reported the fraud through the cybercrime helpline. You Can Also Check: Gold Rate in Ahmedabad | Silver Rate in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad | Ahmedabad AQI | Weather in Ahmedabad | Petrol Price in Ahmedabad | Diesel Price in Ahmedabad | CNG Price in Ahmedabad | LPG Price in Ahmedabad Stay updated with the latest Ahmedabad news.
The businessman contacted the application developer, who said the company’s server control panel appeared to have been hacked. The developer said the intruders had accessed the credentials for the API service and used them to initiate transactions without authorisation, the complaint states. On checking the wallet on the website, through which his company processed transactions, he found that multiple unauthorised transactions of different amounts had been carried out. The money was transferred to several unidentified bank accounts and was not credited to any of his company’s retailers, he alleged. The company earned commissions on transactions processed through the platform. He has submitted server IP logs, wallet statements and agreements with the software developer and API service provider to police. Cybercrime police are examining the transactions and server logs to trace the beneficiary accounts and identify those behind the breach. Download the TOI App.