The accused, identified as Abhishek Tiwari, was working as a software engineer with a cryptocurrency exchange company in Mumbai. According to the police, Tiwari allegedly stole the cryptocurrency from the company's hot wallet over a period of several months.Tiwari was arrested on Tuesday after the company filed a complaint with the police. The police have seized Tiwari's laptop and mobile phone, which they believe contain evidence of the crime.Tiwari has been charged with theft and criminal breach of trust. He was produced before a court on Wednesday and remanded to police custody for further investigation.The police are investigating how Tiwari was able to steal the cryptocurrency from the company's hot wallet. They are also trying to trace the stolen cryptocurrency.The arrest of Tiwari is a reminder of the importance of securing cryptocurrency assets. Cryptocurrency exchanges should take steps to protect their hot wallets from theft. Investors should also take steps to protect their cryptocurrency assets, such as using hardware wallets and storing their cryptocurrency in multiple locations.
What is a hot wallet?
A hot wallet is a cryptocurrency wallet that is connected to the internet. This makes it easy to access and use your cryptocurrency, but it also makes it more vulnerable to theft.What is a hardware wallet?
A hardware wallet is a cryptocurrency wallet that is not connected to the internet. This makes it more difficult for thieves to access your cryptocurrency, but it also makes it less convenient to use.How can I protect my cryptocurrency assets?
There are a number of things you can do to protect your cryptocurrency assets, including: Store your cryptocurrency in multiple locations.- Use strong passwords and two-factor authentication.
Be aware of phishing scams.* Only invest in reputable cryptocurrency exchanges.