- By Deeksha Gour
- Mon, 27 Oct 2025 07:30 PM (IST)
- Source:JND
Bengaluru News: Bengaluru Cyber Crime Police have uncovered an international cyber fraud involving hackers from Hong Kong and masterminds based in Dubai, who allegedly siphoned off nearly Rs 48 crore from the bank accounts of Whizdm Finance Pvt Ltd. Two individuals have been arrested in connection with the case, officials confirmed.
The fraud came to light after a senior manager from the company filed a complaint on August 7, reporting a series of suspicious fund transfers that occurred between August 6 and 7. The company’s internal investigation revealed that the transactions were not made through authorised systems or whitelisted IP addresses, but instead through foreign servers, suggesting a major security breach.
1,782 Transactions Made To 656 Bank Accounts
According to police, the cybercriminals executed 1,782 unauthorised transactions across 656 different bank accounts, transferring nearly Rs 47 crore from the company’s accounts. One of the arrested suspects, Sanjay Patel, received Rs 27.39 lakh in his State Bank of India account, while another accused, Ismail Rasheed Attar, helped transfer Rs 5.5 crore to Echelon Science Tech Pvt Ltd in Hyderabad, which was later routed to Flipo Pay, as per a NDTV report
Illegal Transfers Traced To Foreign IPs Linked To Rented Servers
Investigators found that two Dubai-based operatives had allegedly hired hackers from Hong Kong to manipulate the company’s API systems and bypass bank security mechanisms. The illegal transfers were traced to IP addresses originating from Hong Kong and Lithuania, connected through five rented servers abroad.
Both arrested suspects are currently being questioned and police are tracking the international network involved in the crime. Efforts are also underway to trace the digital money trail and recover the diverted funds.