Rising Cybercrime in Kerala: The Importance of Cybersecurity Education and Training
Education has always been one of the mainstays of our society, providing both knowledge for individual minds Cybersecurity Courses and a prop to personal growth. It gives people the tools, information, and skills required to thrive and live full work lives in society. Besides book knowledge, education helps people develop complex ways of thinking that can solve problems and create things; that make up what we call creativity. Education facilities provide people of all ages with information and skills to enable them to cope with future challenges. In this way, education supports the idea of lifelong learning, while immersing our people in the habits necessary to attain success at work and personal life. Because when we invest in education, we are laying a cornerstone for both personal and professional success in the future. And by investing in the future of society, we grant talented people an opportunity to realize their full potential.
For students who want real-life exposure, there are quite a good number of internships in Trivandrum which include ethical hacking and cybersecurity. These positions give one a wide breadth of exposure and an opportunity to develop on-the-job skills that are very important for a person looking forward to having a career in cybersecurity. With cybersecurity gaining more importance day by day, internships related to this domain in Trivandrum have caught the attention of many internship-aspiring candidates who would like to get some experience and make their base strong in this field.
WazirX Stops Withdrawals After £180 Million Hack
WazirX, a crypto exchange based in Mumbai, has put a stop to all withdrawals from its platform after a big hack. India’s biggest cryptocurrency exchange confirmed this news in an official statement on X, which used to be called Twitter. WazirX spotted strange withdrawal activity Thursday (18 July) during European hours. The exchange, which calls itself ‘India Ka Bitcoin Exchange’ (India’s Bitcoin Exchange) serves Indian customers.
WazirX has registered with the Financial Intelligence Unit (FIU) in India, according to reports. This registration gives it the legal right to provide crypto exchange services to Indian citizens. Few cryptocurrency exchanges in India have this registration. This has played a big part in making WazirX popular and seen as trustworthy among Indian crypto fans.
The company calls the security breach a “force majeure event” that they claim has caused them to lose about £180 million ($230 million). WazirX posted on X saying, “This is a force majeure event we can’t control, but we’re doing everything possible to find and get back the funds. We’ve already stopped some deposits and reached out to certain wallets to recover. We’re talking to the best people to help us do this.”
WazirX gave more info about the cyber attack in a later statement on Thursday. They said, “The cyber attack came from a difference between what Liminal’s interface showed and what the transaction had. During the cyber attack, the info on Liminal’s interface didn’t match what was signed. We think someone swapped the payload to get control of the wallet.”
This event has shocked the Indian crypto world. It’s made people worry about how safe digital assets are and how good the cyber defenses of crypto exchanges are.
Listing of what has been stolen from WazirX
Lookchain, an independent blockchain explorer, has broken down the cryptocurrencies stolen from the platform. Their report shows the hackers took a wide range of digital assets, including:
- 5.43 billion SHIB tokens
- Over 15,200 Ethereum tokens
- 20.5 million Matic tokens
- 640 billion Pepe tokens
- 5.79 million USDT (Tether)
- 135 million Gala tokens
This long list covering more than 200 different cryptocurrencies, highlights how big and complex the attack was. The variety of stolen assets hints that the hackers could access multiple wallets or a central pool of funds.
What about WazirX's biggest rivals
After this security breach, WazirX’s main competitors in the Indian crypto market CoinSwitch and CoinDCX, acted fast to calm their own customers. Both companies released statements stressing that their platforms and user funds stay secure and untouched by the event at WazirX.
Sumit Gupta co-founder and CEO of CoinDCX tweeted to talk about the situation saying, “Our wallet security stays strong.” This statement tries to boost trust in CoinDCX users and set apart their security steps from those of WazirX.
In the same vein, Ashish Singhal co-founder and CEO of PeepalCo, the parent company of CoinSwitch, posted a warning on Twitter to crypto investors. He said, “We ask all our crypto investors to watch out for possible market swings during this period and be careful when they trade and invest.” This tweet aims to calm CoinSwitch users and points out how the WazirX hack might affect the whole market.
The fast actions from these competing exchanges show how linked the crypto world is and how a security breach at one platform can shake trust in the entire industry.
What investigations say
As the probe into the hack goes on, news outlets quoting blockchain tracker Elliptic have hinted at a possible tie to North Korean hackers. If proven true, this claim would fit the trend of North Korean government-backed cyber raids targeting crypto exchanges and other money-related firms.
These news stories say the hack happened because a private key leaked, giving access to the hacked wallet. The leaked keys were then used to upgrade a safe multi-signature wallet, which held lots of assets, to a harmful contract. This attack method shows how crucial it is to have strong key safety practices in the crypto world.
The possible involvement of state-backed hackers would make the incident more complex and could hamper recovery attempts if confirmed.
Conclusion
With the number of cybercrimes going off the charts lately, including the most recent one on WazirX, it has become extremely vital to have a strong base of cybersecurity education and training. Trivandrum – a place that is evolving into an IT hub – provides an ideal setting for all those who aspire to make it big as cybersecurity professionals to learn the nitty-gritty of this trade, along with gaining some real hands-on experience. Internship programs and specialized educational institutions that concentrate on ethical hacking and cybersecurity ensure that students have a taste of what the outside world feels like; such initiatives make them well enough so that they hit the ground running when challenges come knocking at their doorsteps. Such programs arm people with ways and means to safeguard digital assets, including the best responsive measures against cyber threats. Cybersecurity education is an investment that begets returns in the form of protected personal data, protected corporate data, and broader public safety in this digitalizing world. As cyber threats evolve, the demand for well-trained cybersecurity experts will continue to grow, making Trivandrum an essential center for nurturing the next generation of cybersecurity
