Ethereum Theft of Data Worth INR 20 lakhs Encountered in Gujarat

by | Apr 3, 2018 | Bitcoin, Cryptocurrency, Cryptocurrency News

Ethereum | Ethereum India | Ethereum Theft Gujarat | Cryptocurrency Theft | Cryptocurrency news India

Latest Crypto News : On Sunday, Gujarat cops recorded a cryptocurrency theft of Ethereum after a city-based businessman filed a complaint with Anandnagar police for the theft of data worth Rs 20 lakh using an access key.

Very similar to bitcoin, Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications. The currency it generates is called “Ether”.

The victim of the Ethereum Theft,  Darshil Shah, 32, is a resident of Jodhpur and owns an office in Prahlandnagar for software and application development. According to his complaint, he found two data breaches on February 19 and 21 from the server. At that time, the data was worth Rs 40 lakh.

An Anandnagar police official stated,

“He has stated that he had got in touch with a service provider for the investigation, when he came to know that an outside intrusion was not possible in the set-up. The only way to get in would be through a private key which only he and the service provider hold. Two accounts out of 250 were holding the maximum data. He has thus mentioned in the complaint that the data theft was performed by someone known to the system,” 

For the above mentioned cyber crime, the police has registered the case under sections of the IPC and the IT Act.

The number of theft cases in cryptocurrencies like Bitcoin and Ethereum has been becoming an alarming concern for most of the crypto users. This calls out for better protection at the platform as well as more education about protecting the cryptocurrencies.

Recently, a Delhi based Woman also got scammed and lost her Bitcoins worth $55,000.

Source- Times of India publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.

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