Massive Rs 16.50 Crore Cyber Heist Hits Nainital Bank

A major cyber robbery has occurred at a Nainital Bank branch in Noida, where hackers transferred Rs 16.50 crore over five days in June. Authorities have launched an investigation and aim to make arrests soon.

In a major cyber heist, a branch of Nainital Bank in Noida has reported a server breach resulting in a staggering Rs 16.50 crore being illegally transferred to various accounts by unknown thugs, officials said on Monday.

Assistant Commissioner of Police (Cyber Crime) Vivek Ranjan Rai said the police have launched a probe into the crime which took place over a period of five days in June.

The IT manager of the Nainital Bank's branch in sector 62 submitted a complaint at the Cyber Crime police station here, informing that between June 16 and 20 some unknown persons hacked the servers of the bank,' Rai said.

The perpetrators of the crime used the hacked servers to control the login ID and password of the bank manager. In doing this, Rs 16.50 crore of the bank were transferred into various accounts,' the officer said.

The investigation in the case so far shows that the funds were transferred into 89 different bank accounts, he said.

Rai said a special team has been formed to investigate this case further.

He added that arrests would be made soon to unveil the cyber heist and to recover the funds.