HYDERABAD: A software firm in Hitec City lost Rs 1.39 crore after cybercriminals allegedly hacked its servers and carried out unauthorised financial transactions.
The company, which operates fintech applications for bill, rental, and education payments, discovered the theft during an internal audit on September 15, revealing debits totalling Rs 1,39,95,215.
Technical investigations indicated that hackers gained unauthorised access to the company’s server and used it to send multiple Application Programming Interface (API) requests to partner banks.
Fund transfer requests were initiated to various accounts, and IP addresses were whitelisted to legitimise fraudulent transactions. While the database remained secure, the server infrastructure was exploited.
Based on the complaint of the CEO of the firm, a case has been registered at Cyberabad Cybercrime PS.