The accused, Shubhang Jain, a native of Haryana, allegedly stole Rs 56 crore worth of cryptocurrency while working as a software developer at Cipher Technologies, headquartered in Rajajinagar in Bengaluru, between May 2021 and April 2022, as reported by Deccan Herald.
CID sources revealed to the publication that Jain’s role dealt with market analyst and finance, providing him with access to the private crypto wallets owned by the company. The stolen assets reportedly included Bitcoin, Binance, and Tether.
In April 2022, Cipher Technologies found the cryptocurrency theft during an audit and filed a complaint at a police station. The case was then transferred to the CID.
An officer told DH that tracking Jain was highly challenging as he hardly stayed in one place and did not have a fixed phone number. Known for staying only in luxury hotels and living lavishly, Jain was eventually tracked down in Navi Mumbai.
