Demat Account Hacked: Shares Worth Rs 1.26 Crore Stolen

Maharashtra police are investigating a case in which a man’s demat account was hacked, resulting in the theft of shares worth Rs 1.26 crore. The shares were sold between January 2017 and December 2018, and the proceeds were deposited in a fraudulent bank account.

Authorities in Maharashtra's Thane district have launched a probe after a man reported the hacking of his demat account, leading to the sale of shares worth Rs 1.26 crore. The alleged cybercrime occurred between January 2017 and December 2018. However, the delay in reporting has raised questions.

According to the First Information Report (FIR) filed at the Manpada police station in Dombivli, the cybercriminals used fake IDs to open a bank account in the victim's name. Subsequently, they accessed his demat account to sell 9,210 shares of a renowned paint company.

The proceeds from the unauthorized sales were then funneled into the fraudulent bank account. Police are currently working to trace the perpetrators behind this significant financial fraud.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)