A Vijaywada Engineering Dropout Hacked PayG and Other Payment Gateways to Steal 3 Crores!
Cybercrimes are getting more prominent day by day after the revolutionary initiative of the Government of India to digitalize India. The government is enforcing and introducing digital services but a few of them are failing to implement security measures in their services.
Recently, a cybercrime came into view in which an Engineering Dropout student, Vannam Sriram Dinesh Kumar Hacked into several payment gateways to steal a sum of more than 3 crores rupees. The Hyderabad Police came into action when a complaint was lodged about the cyber attack on a payment processing company PayG in march 2022.
In the rigorous investigation, the cyber cell department of Hyderabad police busted Dinesh Kumar and identified various phases of the cyber attack. The Hyderabad police investigated the whole cyber incident with a team of ethical hackers to resemble this cyber incident involving the hacking of several payment gateways to steal the money of more than 3 crores.
Who was Behind this Cyber Attack?
Vannam Sriram Dinesh Kumar is an engineering dropout who was involved in cyber security as a vulnerability testing and evaluation personnel. He won several bounties for finding bugs in web apps. Instamojo is an online platform that facilitates freelancers to sell and collect payments, who offered a $100 reward to Dinesh Kumar for finding a bug in their payment gateway. Dinesh Kumar was involved in finding bugs for several years and by date, he acquired a lot of information about the working of online payment gateways that he used to hack in this cyber incident.
Dinesh Kumar, a resident of Vijaywada acquired a Bachelor’s Degree in computers but failed in the final year of his college and so he dropped out the college. He took several Cyber Security and Ethical Hacking courses from reputed organizations. However, Dinesh could not qualify for any jobs due to uncertain reasons. Further, he get involved in startups and operated initiatives dealing with food and vegetable delivery. It failed but he continued to follow his passion for hacking.
How Dinesh Hacked into the Payment Gateway?
Recently, he got involved in hacking illegally into payment gateways to steal money from them. Since he was already involved in vulnerability testing it become very easy for him to find vulnerabilities in payment gateways. In the investigation, the law enforcement agencies found that Dines Kumar previously hacked a few more payment gateways. They found that in November 2021 he hacked Best Pay Payment Gateway to steal a sum of 20 lakhs rupees. Further, he exploited the vulnerability of another payment gateway to steal 60 lakhs and in march 2022, he hacked into the PayG to steal an amount of 53 lakhs rupees.
The Cyber cell department mentioned that they have to go through a rigorous investigation procedure to convict Dinesh Kumar for the cyber crimes of this hacking incident of PayG. The investigating officers and Ethical Hackers in the team said that Dinesh Kumar the person behind stealing money was using a preplanned strategy to divert the money so that he does not get caught.
He used the vulnerability of the payment gateway to escalate the privilege from the user to the admin account using hit and trial methodologies. After gaining access, Dinesh used his fake login ID and password to login into the admin panel of the payment gateway where he bought a cryptocurrency named Bitcoiva worth 53 lakhs. In the next step, he converted Bitcoiva cryptocurrency into Remitano, another cryptocurrency. In the final stage, Dinesh used his three Indian bank accounts to receive money in small chunks to stay undetected by the government. He used Yes Bank, ICICI Bank, and Aptus India bank in his whole process of the money laundering process. Currently, He is in the custody of the Hydrabad police with his friend Chintu who helped him in this cyber incident.