Bengaluru: Private IP service company files bitcoin extortion bid; three employees booked
Three employees of a private IT company in Bengaluru have been booked for allegedly stealing sensitive data and demanding a cryptocurrency ransom. The suspects threatened to leak customer information unless the company paid in bitcoin.
Why it matters
This case highlights the growing threat of insider cybercrime and the use of cryptocurrency for extortion in the corporate sector.
The Whitefield CEN Crime Police have registered an FIR against three employees of a private IT company for their alleged involvement in stealing confidential company and customer data and threatening to disclose it unless a cryptocurrency ransom was paid.
A complaint was lodged on October 12 by a company executive and board member.
According to the complaint, the company received an email on September 15, 2026, allegedly claiming to have gained unauthorised access to the company’s computer systems and stolen confidential information relating to more than 40 customers and over five lakh email addresses. The sender threatened to disclose the information unless 10 bitcoins were paid.
During an internal inquiry, the company suspected the involvement of employee Shivaram Nekkalapudi and others in the alleged breach of its systems and customer data.
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