CySecurity News – Latest Information Security and Hacking Incidents
The South East cybercrime police are investigating a fraudulent case where a hacker stole ₹7.3 crores over three months by exploiting the authorization process of Razorpay Software Private Limited, a payment gateway company to authenticate 831 failed transactions.
The fraud came to light when officials of the payment gateway company Razorpay Software Private Limited conducted an audit of the transactions, and they couldn’t accommodate the receipt of Rs. 7,38,36,192 against 831 transactions.
Razorpay Software Private Limited was founded by Shashank Kumar and Harshil Mathur in 2015. The company offers online payment services that allow businesses in India to collect payments via credit card, debit card, net banking, and wallets.
On May 16, Abhishek Abhinav Anand, head of Legal Disputes and Law Enforcement at Razorpay Software Private Limited, lodged a complaint with the South East cybercrime police. The police are currently attempting to track down the hacker on the basis of online transactions.
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