Crypto Currency: Developer in Vietnam sues crypto exchange startup

A Pune-based businessman who started a crypto exchange has been exposed by a Vietnamese developer with the help of his accomplices who swindled him out of a total of 234,000 cryptox tokens. Meanwhile, after learning that the stolen tokens had been sold on the Bynaz Exchange, Bynaz froze the amount in his wallet.

A 29-year-old businessman from Bawadhan has lodged a complaint at the Cyber ​​Police Station. Police have registered a case against Wo Thi Hog, Wang Jung (Tran Van Vinh), Nudenkhak Chin (all Vietnamese) and Suma Akhtar (Bangladesh). This type occurred between 28 January and 25 April 2022.

According to the police, the plaintiff is a software engineer. He has a company. They are starting crypto exchanges. For this, Wang Jung (Vietnam) from Vietnam was given the job of coding. Other works were being done from Pune. They bought some crypto to check how the software works, they put it on the server. On April 17, the city of the plaintiff suddenly closed. It took them three days to get started. He then noticed that all the tokens on his server were missing. He told Wang Jung about it. Then someone hacked the city and took all the tokens. "We will investigate," he said. At the same time, the plaintiff started an inquiry. It was discovered that Wang Yung had done all the work and had stolen the token.

While coding, they stole the private key of the company's hot wallet and other server passwords from the data. By unauthorized access to the company's servers, a total of 2,34,134 Cryptox tokens worth Rs 23,88,320 in the hot wallet on the server, approximately. 

He contacted Wang Yung, who admitted that he had no money. A search of the crypto token, meanwhile, revealed that it had been sold on the Binary Exchange. After the plaintiff contacted Bainaj Exchange, he froze Rs 8 lakh in his wallet. The plaintiff will now have to sue in court to get the frozen money. Police Inspector Chintaman is investigating further.