Hey ninja’s, how’s the trading going? A woman was arrested in India on the 17th of March for stealing 63.5 Bitcoin from her former place of work. Ayushi Jain is the co-founder and former employee of Bitcipher cryptocurrency exchange. The 26-year-old was found guilty of stealing the funds from hardware wallets belonging to the firm.
The firm's Lab CEO, Ashish Singhal, filed a complaint to the Indian Police of the thefts that took place on the 11th of January and the 11th of March respectively. The Bengaluru Investigation Department noted that theft involved hardware wallets that had a 24-word passphrase (password) jotted down on a piece of paper.
Law enforcement was able to narrow the lists of suspects to workers at the firm because the perpetrator was able to access the wallets using the passphrase and transfer funds. The culprit had to have been someone with experience in using this technology and who was also closely associated with the firm.
Ayushi Jain, was identified as a likely suspect after a list of the firm’s employees was prepared and it was discovered that she quit her job on the 16th of December 2019 despite being a co-founder of the firm. She was detained and later on confessed to committing the crime, the stolen funds were also recovered by the Police.