His job concerned coping with market analytics and finance, so he had entry to personal crypto wallets owned by the corporate, in keeping with a number of CID sources.
The cryptocurrencies he stole included Bitcoin, Binance and Tether, the sources added.
So staggering have been Jain’s tech exploits and so extravagant was his way of life that he reminded the CID of Srikrishna alias Sriki, a Bengaluru tech nerd who allegedly hacked right into a authorities web site and siphoned off cryptocurrencies worth many crores. Srikrishna has been charged in not less than one case and is out on bail.
However in contrast to Srikrishna, Jain was additionally excellent at working underneath the radar, as he evaded arrest by leaving little to no hint, the CID sources defined.
Cipher Applied sciences found the cryptocurrency theft throughout a scrutiny of the accounts and lodged a criticism on the Subramanya Nagar police station in April 2022.
Given the gravity of the criticism, the case was transferred to the CID.
The CID examined the corporate’s transactions and weeded out official ones to establish cryptocurrencies despatched to crypto wallets belonging to Jain, his dad and mom and shut associates, an officer near the investigation mentioned.
Utilizing the Merkle and Arkham instruments that assist set up cryptocurrency transactions, the CID found that cryptocurrencies worth Rs 10 crore have been siphoned off. It additionally traced him first to Gujarat after which to Navi Mumbai.
However catching maintain of Jain was not really easy.
“He by no means stayed in a single place nor had a set cellphone quantity. He all the time stayed in luxurious lodges and led an opulent way of life,” the officer instructed DH. “It was practically unimaginable to hint him.”
Nevertheless, the CID discovered a breakthrough when police informants, after spending hours monitoring crypto exchanges, found a cellphone quantity purportedly utilized by Jain. The quantity was lively in Navi Mumbai.
“We weren’t positive if it was his quantity however we took our likelihood and went to Navi Mumbai on July 29. We skimmed via the decision log and located most calls have been made to accommodate brokers,” the officer mentioned.
After discovering no luck with brokers, CID sleuths went in search of Jain at luxurious lodges. In the meantime, Jain switched on his cellphone, serving to the CID choose him up from a Navi Mumbai lodge throughout an in a single day operation led by police inspector Shivaprasad on July 30.
