Navi Mumbai Fintech Firm Loses ₹1.98 Crore In Massive Cyber Heist
A Vashi-based fintech company suffered a major cyber breach on October 2, losing ₹1.98 crore through 57 unauthorised fund transfers executed within 94 minutes. The cybercriminals accessed the company's financial transaction system between 10:19 am and 11:53 am, transferring funds to multiple bank accounts across the country via the electronic ledger linked to its Yes Bank current account.
Employees of VK Venture Pvt Ltd, located at Vashi Railway Commercial Complex, discovered the breach when daily settlements for retailers were not processed at around 11:30 am. The company director subsequently found several unauthorised transactions in the financial system. The Navi Mumbai Cyber Police have registered a case against unidentified persons under the Information Technology Act and Bharatiya Nyaya Sanhita.
The company provides cash withdrawal and financial transaction services to around five lakh registered retailers nationwide through its Biznext portal and Aadhaar Enabled Payment System. Police are tracing beneficiary accounts and examining the technical route used to breach the system, with the investigation still in its early stages.
