Hyderabad, Oct. 23: A Hyderabad-based non-banking financial company (NBFC) allegedly lost more than Rs 3.3 crore in a cyberattack that lasted just 87 minutes, according to a complaint filed with the Telangana Cyber Security Bureau (TGCSB).
The company’s chief financial officer (CFO) lodged a complaint at TGCSB headquarters on October 20. The bureau subsequently registered a case and launched an investigation.
According to the complaint, unidentified attackers gained unauthorised access to the company’s systems and application programming interface (API) between 10:31 am and 11:58 am on October 19.
During this period, the attackers allegedly carried out 183 unauthorised fund transfers. More than Rs 3.3 crore was reportedly transferred to 52 suspected beneficiary accounts.
Hyderabad NBFC Cyberattack: Only Rs 40 Lakh Blocked
The company detected the security breach on October 19 and reported the incident through the National Cyber Crime Reporting Portal (NCRP).
It also requested police to investigate the alleged fraud and freeze the beneficiary accounts that received the funds.
Preliminary investigations suggest that the attackers transferred the money across multiple accounts before the company detected the breach.
A report by The Times of India, quoting a TGCSB official, stated that individual transactions involved amounts ranging from Rs 50,000 to Rs 2 lakh.
Police managed to block only Rs 40 lakh in the suspected beneficiary accounts, the official reportedly said.
The TGCSB is continuing its investigation to identify those responsible for the cyberattack and trace the remaining funds.
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