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Vulnerabilities and Exploits
RCE Security Patch Software Vendor Vulnerabilities and Exploits

Software Vendor VMware Patches Critical Bug Exploited in the Wild

 

Malicious actors are actively exploiting a critical bug, tracked as CVE-2022-22954, in VMware Workspace ONE Access and Identity Manager recently addressed by the vendor. The vulnerability is used in active attacks that infect servers with coin miners. 

Earlier this month, VMWare rolled out an update to resolve a critical security flaw (CVSS: 9.8) in several of their products, including VMware’s Workspace ONE Access, VMware Identity Manager (vIDM), vRealize Lifecycle Manager, vRealize Automation, and VMware Cloud Foundation products.

The software vendor also warned regarding the possibility of an attacker with network access triggering a server-side template injection that results in RCE. The vulnerability is not unprecedented: in late September 2022, CVE-2021-22005 enabled malicious actors to strike vulnerable systems with RCE attacks, achieving root privileges and reaching the vCenter Server over the network. 

“VMware Workspace ONE Access and Identity Manager contain a remote code execution vulnerability due to server-side template injection. VMware has evaluated the severity of this issue to be in the Critical severity range with a maximum CVSSv3 base score of 9.8.” reads the security advisory. “A malicious actor with network access can trigger a server-side template injection that may result in remote code execution.”

“This critical vulnerability should be patched or mitigated immediately per the instructions in VMSA-2021-0011. The ramifications of this vulnerability are serious,” the software vendor said while urging its customers to address the vulnerabilities immediately to prevent its exploitation. 

In the past two weeks, multiple security researchers designed working exploits for CVE-2022-22954, with at least one proof-of-concept exploit released on Twitter. While publishing public exploits raises the risks that threat actors will use them in attacks, they are also meant to help secure systems through testing and serve as validators of existing fixes/patches. 

According to cybersecurity intelligence firm Bad Packets, malicious actors are actively scanning for vulnerable hosts to exploit the flaw in the wild. The IP address, 106.246.224.219, used in the payload, was recently seen dropping the Linux Tsunami backdoor in other attacks. However, it remains unclear what the 'one' executable is, as it is no longer accessible. Security researcher Daniel Card also joined the queue by releasing proof-of-concept exploits on Twitter and stated that the vulnerability was being exploited to deploy coinminer payloads.
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Unauthorized Websites
cybercriminals Payment Fraud Privacy Social Media Spam SMS Unauthorized Websites

Spam with an SMS Group Offering Freebies in Return for Direct Debit

 
Unsolicited and unwanted messages which are referred to as spam, are rarely sent from another phone. They often originate on a computer and are delivered to your phone via email or instant messaging. Scammers can transmit them cheaply and easily since they are sent over the internet. Robotexts are a sort of spam text; however, because they are simpler to ignore than robocalls, they are less intrusive. 

Spam texts and robotexts are frequently the beginning of a scam in which the sender hopes to collect personal information about the user to utilize it for fraudulent purposes. These texts put you in danger of identity theft and raise the chances of you installing malware onto your phone unintentionally. 

Spam text messages are often not scams, although they are sometimes. Scammers will deploy a variety of content to deceive you which includes luring keywords like "You've won a prize, a gift card, or a voucher", which you must use, or "You've been offered a credit card with a low or no interest rate". You must take action because there is an issue with your payment information. There's a delivery package notification — potentially requesting you to reschedule a delivery slot or pay a delivery fee to obtain it. If you weren't the one who made the purchase or transaction, you'll be alerted and asked to respond.
  • Remember any reputable organizations will not approach you out of the blue by text message and ask you to reveal personal or financial information. 
  • There are grammatical and spelling mistakes. In client correspondence, legitimate businesses rarely make obvious spelling or grammatical problems. 
  • Is the message of any interest to you? Did you order or expect anything, for example, if it alerts you about a parcel delivery? Did you enter a competition if it informs you about a prize? Is it a gift card from a store where one previously purchased something? 
Why do People continue receiving spam texts, they may utilize technologies to generate numbers automatically, so you may obtain both robocalls and robotexts even if you have a different phone number. Users' data is sold on social networking sites as prominent and well-known social networking sites watch your online behavior and sell such data for advertising. What can one do if they receive a spam text message, don't respond, avoid clicking on any links, and don't give out any personal details. Furthermore, directly go to the company's website and report the scammer. 

One important question that needs to be addressed is: What steps can be taken to protect yourself against spam texts? In order to avoid being scammed via spam texts, users are advised to only give out their personal cell phone number if it is really necessary. Online forms frequently ask for phone numbers, however, users must bear in mind that the information they provide could end up on marketing lists or databases. To help decrease the number of unwanted messages and calls, do not give out your phone number unless it is absolutely necessary, besides, do not make your cell phone number available to the public. For example, avoid putting your mobile phone number on your Facebook, Twitter, or other social media pages. Additionally, keep a close check on your phone bill which includes examining your phone bill regularly. 

Users must note that if they are unsure, they should check the provider's website to see if they are offering freebies in exchange for payment. Although it is more than likely they aren't, it is still preferable to click any of them to find out.
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User Security
Data Data Breach Data Theft User Data User Privacy User Security

CitySprint Confirms Security Breach, Personal Data of Drivers May be Compromised

 

CitySprint, a same-day delivery company, has issued a warning to couriers after discovering a data breach that may have given hackers access to sensitive personal information. A security issue was confirmed in an email sent to hundreds of drivers on April 7th. 

Self-employed drivers transport items across the UK for CitySprint, which was recently acquired by package delivery behemoth DPD Group. These drivers provide personal information to CitySprint using the company's iFleet interface, which includes photos of their driver's licence, car shots, and weekly earnings data. The delivery company claims that it shut down the iFleet system and restricted access to it as soon as it became aware of "the incident." 

CitySprint currently claims that it has no confirmation that personal data has been accessed, but it does not rule out the possibility. For the time being, the business's investigations are ongoing, and it has deployed forensic cybersecurity professionals to completely and comprehensively examine the event and analyse what data, if any, has been exposed. 

It states, “Our security checks, which are not quite complete yet have shown that so far, no personal data was compromised. The remaining checks will confirm if any of your data may have been affected. Therefore, as a precautionary measure, we have informed the Information Commissioner’s Office of the incident.” 

CitySprint claims it takes personal data protection "very seriously" and is investigating IT working processes across the company. Some drivers are clearly dissatisfied with the way the company handles their personal information. 

CitySprint includes several pieces of advice in its email for drivers on what to do if their personal information is compromised online. Change their passwords to something strong and unique, enable two-factor authentication on accounts that provide it, and consider signing up for an identity theft protection service. 

On 13th April, CitySprint offered the following statement, “We recently detected an apparent malicious attempt by a third party to access confidential data from our courier management platform. As soon as this issue was discovered, we took immediate steps to close off external access to this and launched a full and thorough investigation, led by independent cybersecurity experts. 

Now that this investigation has concluded, we are pleased to confirm that we believe that no personal data has been compromised. This incident has been reported to the proper authorities and we are in contact with couriers who contract with us about this as a matter of precaution.”
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User Security
Cyber Fraud Phishing Attack Smishing Campaign User Privacy User Security

T-Mobile Users Targeted via New Smishing Campaign

 

Threat actors are targeting T-Mobile customers in an ongoing smishing campaign with malicious links using unblockable texts sent via SMS (Short Message Service) group messages. The New Jersey Cybersecurity & Communications Integration Cell (NJCCIC) issued a warning after multiple users have filed reports of being targeted by this new SMS phishing campaign. 

"The messages vary but typically thank the recipient for paying their bill and offer a gift. The messages include a link to accept the gift," according to the NJCCIC, which operates within the state's Office of Homeland Security and Preparedness and deals with these types of incidents. “These links may lead to malicious websites intending to steal account credentials or personal information, or install malware."

Earlier this year in In March, an identical series of smishing attacks also targeted Verizon Wireless and Spectrum users, mimicking the carriers in text messages spoofed to appear like they were sent from the target's phone number. 

The Federal Trade Commission also issued a warning to T-Mobile users to watch out for fraudsters sending them texts from their numbers. "They’ve changed (spoofed) the caller ID to look like they’re messaging you from your number, but the shock of getting a text from yourself is bound to get your attention — which is what they’re after," the FTC said. 

Cybercriminals using information from previous data breaches The NJCCIC believes that the smishing campaign was likely made possible due to previous data breaches affecting the mobile carrier and millions of its users. 

Since 2018, when info belonging to 3% of T-Mobile customers was stolen by hackers, T-Mobile has disclosed five other data breaches. In 2020, T-Mobile employees' email accounts were compromised, and phone numbers and call records were accessed by unauthorized third parties.

NJCCIC meanwhile is advising T-Mobile users targeted by smishing campaigns to contact directly to official websites and avoid clicking links delivered in SMS text messages from anonymous contacts and refrain from providing critical details to unauthorized websites.

Additionally, the firm recommended users to mute the text thread to stop getting alerts if anyone replies. They can delete the message thread, too, although that won't stop new texts from arriving.
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Visa
C2C Conti Ransomware Data Breach Dropbox Group-IB remote access Russia Source Code disclosure vulnerability Visa

Russian Groups are Plagued by OldGremlin Ransomware Threat

 

The new cyber-crime squad, known as OldGremlin, is actively targeting banks, medical institutions, software developers, and industrial firms, among other targets. The gang differentiates from all other ransomware groups by launching a limited number of campaigns – just under five since early 2021 – which solely target Russian firms and employ proprietary backdoors developed in-house.

OldGremlin has claimed ransoms as large as $3 million from one of its victims, despite being less active, which may indicate the ransomware business is approaching moonlighting. Two phishing attacks that were conducted near the end of March 2022 constitute the most current OldGremlin activities. It might be too early to say how many organizations were attacked, but security experts say roughly one Russian mining corporation is on the list of victims. The adversary did not deviate from its previously observed strategy of exploiting trending news topics to gain initial access. 

As per cybersecurity experts at Singapore-based cybersecurity firm Group-IB, this time OldGremlin scammed a senior auditor at a Russian financial organization, advising that the Visa and Mastercard payment service systems will be suspended due to recent sanctions placed on Russia.

The email directed recipients to a malicious Dropbox document that downloads TinyFluff, a backdoor that opens the Node.js interpreter and grants the attacker remote access to the target system. The email then allowed OldGremlin remote access to the machine via a malicious file that used a backdoor known as "TinyFluff," which the gang upgraded from a prior backdoor known as "TinyNode." The target receives a ransom note once the attacker has gained access to the system and has access to system data. A mining business, according to Group-IB, is one of the possible victims. 

Another well-known ransomware group, NB65, has been trying to frustrate Russian operations, including the alleged theft of 900,000 emails and 4,000 files from the state-owned television and radio broadcasting network VGTRK. In March, the organization exploited released source code from the Conti Ransomware gang – a Russia-linked threat actor — to create distinct ransomware for the first time. 

The researchers can study the directives for these steps of the assault using a traffic sniffer because they are provided in cleartext.
  • Gathering data on the infected system or device. 
  • Collecting information about the drives that are connected.
  • Executing a command in the cmd.exe shell and passing the output to the command and control server (C2) 
  • Receiving information about the system's installed plugins.
  • Obtaining information about files on the system drive's specified folders puts an end to the Node.js interpreter.
  • Before executing the last step of the assault, TinyCrypt/TinyCryptor, the group's proprietary ransomware payload, OldGremlin can spend months within the infiltrated network. 
The gang only ran one phishing effort in 2021, but it was enough to keep them occupied for the entire year as it gave them initial access to a network of various firms. Apart from the target Russian mining company, Group-IB believes that a higher number of OldGremlin victims will be discovered this year as a result of the group's March phishing operation. 
 
The researchers believe OldGremlin has Russian-speaking members based on the evidence they collected and after examining the quality of the phishing emails and decoy papers. They called the group's understanding of the Russian terrain "astonishing." OldGremlin defies the mold by focusing solely on Russian businesses including banks, industrial corporations, medical institutions, and software producers.
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US
Bitcoins Crytocurrency Digital Asset digital currency Technology US

US Attributes North Korean Lazarus Hackers to Axie Infinity Crypto Theft

 

The US Treasury Department announced on Thursday that it had linked North Korean hackers to the heist of hundreds of millions of dollars in cryptocurrencies linked to the popular online game Axie Infinity. 

On March 23, digital cash worth about $615 million was stolen, according to Ronin, a blockchain network that enables users to transfer crypto in and out of the game. No one has claimed responsibility for the hack, but the US Treasury announced on Thursday that a digital currency address used by the hackers was under the control of a North Korean hacking group known as "Lazarus." 

The Treasury Department spokesperson stated, using the initials of North Korea’s official name, “The United States is aware that the DPRK has increasingly relied on illicit activities — including cybercrime — to generate revenue for its weapons of mass destruction and ballistic missile programs as it tries to evade robust U.S. and U.N. sanctions.” 

The wallet's users risk being sanctioned by the US, according to the representative. Chainalysis and Elliptic, two blockchain analytics companies, said the designation validated North Korea was behind the break-in. Sky Mavis co-founder Aleksander Larsen, who develops Axie Infinity, declined to comment. Sky Mavis engaged CrowdStrike to investigate the incident, but the firm declined to comment. 

The FBI has ascribed the attack to the Lazarus Group, according to a post on the official Ronin blog, and the US Treasury Department has sanctioned the address that received the stolen money. The Reconnaissance General Bureau, North Korea's primary intelligence bureau, is said to be in charge of the Lazarus hacking squad, according to the US. It has been accused of being involved in the "WannaCry" ransomware attacks, as well as hacking multinational banks and customer accounts and the Sony Pictures Entertainment hacks in 2014. 

Cryptocurrency systems have long been afflicted by hacks. The Ronin hack was one of the most massive cryptocurrency thefts ever. Sky Mavis stated it will refund the money lost using a combination of its own balance sheet capital and $150 million raised from investors including Binance. 

The Ronin blog stated, “We are still in the process of adding additional security measures before redeploying the Ronin Bridge to mitigate future risk. Expect the bridge to be deployed by end of month.” 

According to a Treasury spokesperson, the US will consider publishing crypto cybersecurity guidelines to help in the fight against the stolen virtual currency.
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Ransomware attack
Conti Conti Ransomware Cyber Attacks Extortion Group Ransomware attack

Karakurt Hacking Group Linked to Conti and Diavol Ransomware Crew

 

Cybersecurity researchers from Arctic Wolf Networks published a blog post on Friday claiming that the cyber extortion group Karakurt is operationally associated with both the Conti and Diavol ransomware groups, operating as an exfiltration arm of the ransomware organizations. 

In a blog post, researchers said since its first attacks in August 2021, Karakurt hacking group has targeted more than 40 organizations in a number of industries in at least eight nations.

In conducting the in-depth research Tetra Defense, an Arctic Wolf firm, collaborated with Chainalysis and Northwave to examine the cryptocurrency wallets tied to the Karakurt hacker group, combined with their specific technique for data theft. The analysis confirmed that the group's membership overlaps with the Conti and Diavol ransomware crews. 

Tetra's report reveals the experience of a client firm that was targeted by the Conti group, and subsequently targeted again by a data theft perpetrated by the Karakurt hacking group. The analysis confirmed that the Karakurt attack employed an identical backdoor to exploit the client's systems as the earlier Conti assault. These associations debunk the Conti group’s assurance to victims that paying the ransom will shield them from future assaults.

"Such access could only be obtained through some sort of purchase, relationship, or surreptitiously gaining access to Conti group infrastructure," Tetra explained in its report. 

It is essential to distinguish the several types of cyber assault described right here, according to Tetra. In a ransomware attack, critical information is encrypted and the ransom is paid in exchange for a decryption key so that the victim can recover its data and resume operating. In a data theft, which has been the sole type of attack orchestrated by the Karakurt group, threat actors steal sensitive corporate data and demand money in exchange for not releasing it. 

The Karakurt attacks of this type — there have been more than a dozen to date, according to Tetra — also employed cryptocurrency wallets associated with Conti victim payment addresses, further strengthening the argument that the two groups' membership may overlap significantly. 

“Traditionally, we have seen the criminals honor their offers,” Nathan Little, senior vice chairman of digital forensics and incident response at Tetra stated. “Early on, when these [data theft attacks] began in 2019, it was widespread that corporations had been frightened sufficient that they’d pay, to not cover the incident, however to keep away from the results.”
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Whatsapp Data
Cyber Attacks cybercriminals Encrypted Files Europe FIFA Private Data Trojan Whatsapp Data

Spanish FA Reported a Cyber Attack, Private Texts Seized

 

Police have been informed that the Royal Spanish Football Federation (RFEF) has witnessed a cyber attack. In recent months, top leaders of the union, particularly president Luis Rubiales, have had documents and information from private email accounts, private texts, and audio calls taken.

Headquartered in Las Rozas, La Ciudad del Ftbol, a community near Madrid, the Royal Spanish Football Federation is Spain's football regulating organization. The Spanish FA won the 2010 FIFA World Cup and two European Championships in a row as a result of these events. 

"It's likely this personally identifiable information, taken unlawfully and with clear criminal purpose, was provided to numerous media," the RFEF added. 

Before the publishing of the information, an unnamed journalist informed the RFEF claiming its media outlet had been provided access to illegally acquired material from an unknown source who communicated over an encrypted voice. 

"Through third parties, the media outlet in issue claimed to have obtained confidential contracts, private WhatsApp conversations, emails, and a variety of documents involving the RFEF management," the journalist told. "If accurate, it would be a crime of secret revelation and a breach of the people attacked's fundamental rights." 

The Spanish FA has condemned such "criminal and mafia" acts to all relevant organizations, as well as appointed a private firm to improve security and prevent future attacks.

Cyberattacks, like hacktivists, can be linked to cyber warfare or cyberterrorism. To put it another way, motivations can differ. And there are three basic types of motivations: criminal, political, and personal. Money theft, data theft, and company disruption are all options for criminally minded attackers.
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Technology
Bitcoin cryptocurrency Digital Asset digital currency FBI North Korean Hackers Technology

FBI: North Korean Hackers Stole $600M+ Worth Cryptocurrency

 

The FBI accused North Korean government associated hackers of stealing more than $600 million in bitcoin from a video game company last month, the latest in a sequence of sophisticated cyber thefts linked to Pyongyang. 

The FBI said in a statement, "Through our investigation we were able to confirm Lazarus Group and APT38, cyber actors associated with the DPRK, are responsible for the theft of $620 million in Ethereum reported on March 29th." "DPRK" is an abbreviation for North Korea's official name, the Democratic People's Republic of Korea, and Ethereum is a technology platform linked with a type of cryptocurrency. 

The FBI was referring to the recent hack of Axie Infinity's computer network, which allows gamers to win cryptocurrency. Undiscovered hackers stole the equivalent of about $600 million — estimated at the time of the hack's detection — on March 23 from a "bridge," or network that allows users to transmit cryptocurrency from one blockchain to another, according to Sky Mavis, the business that developed Axie Infinity. 

The US Treasury Department sanctioned Lazarus Group, a large group of hackers suspected of working for the North Korean government, on Thursday. The precise "wallet," or bitcoin address, that was utilised to cash out on the Axie Infinity hack was sanctioned by the Treasury Department.

According to a United Nations panel and outside cybersecurity experts, cyberattacks have been a major source of revenue for the North Korean state for years as its leader, Kim Jong Un, pursued nuclear weapons. North Korea is reported to have fired its first intercontinental ballistic missile in more than four years last month. According to Chainalysis, a company that records digital currency transactions, the Lazarus Group has stolen an estimated $1.75 billion in cryptocurrencies in recent years. 

Ari Redbord, head of legal affairs at TRM Labs, a firm that investigates financial crime said,"A hack of a cryptocurrency business, unlike a retailer, for example, is essentially bank robbery at the speed of the internet and funds North Korea's destabilizing activity and weapons proliferation. As long as they are successful and profitable, they will not stop." 

While much of the focus of cybersecurity analysts has been on Russian hacking in the wake of the Ukraine conflict, suspected North Korean hackers have been far from silent. Last month, Google researchers revealed two separate suspected North Korean cyber attempts aimed at US media and IT businesses, as well as the bitcoin and financial technology industries. Users who are targeted by state-sponsored hackers are notified by Google. 

If a Google user has "any link to being active in Bitcoin or cryptocurrencies" and receives a warning from Google about state-backed hacking, it nearly invariably turns out to be North Korean activity, according to Shane Huntley, who leads Google's Threat Analysis Group.

Further, Huntley told CNN, "It seems to be an ongoing strategy for them to supplement and make money through this activity." 
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Routers
360 Netlab Amazon C2C CPU vulnerabilities CVE vulnerability Cyberattacks DDOS Attacks DVR IP Address Mirai botnet Routers

The Fodcha DDoS Botnet Hits Over 100 Victims

 

Qihoo 360 researchers have found a rapidly spreading new botnet called Fodcha which is capable of performing over 100 attacks every day. Employing this new malware, the threat actor is attacking routers, DVRs, and servers. The actors were able to infect nearly 62,000 machines with the Fodcha virus in less than a month, as per the researchers. 

360 Netlab reports that the number of unique IP addresses affiliated with the botnet fluctuates, as they are monitoring a 10,000-strong Fodcha army of bots utilizing Chinese IP addresses every day, with the majority of them using China Unicom (59.9%) and China Telecom (59.9%) services (39.4 percent ). 

Researchers alleged that "Based on firsthand data from the security industry with whom we collaborated, the frequency of live bots is more than 56000." "The global infection appears to be quite large, as there are over 10,000 daily active bots (IPs) in China, as well as over 100 DDoS victims are targeted daily." 

The Fodcha infects devices by exploiting n-day vulnerabilities in many devices and employing the Crazyfia brute-force cracking tool. The botnet targets a variety of devices and services, including but not limited to: 

RCE for Android ADB Debug Server 
CVE-2021-22205 on GitLab 
CVE-2021-35394 in the Realtek Jungle SDK 
JAWS Webserver unverified shell command execution on MVPower DVR 
LILIN DVR RCE: LILIN DVR
TOTOLINK Routers: Backdoor TOTOLINK Routers
ZHONE Router: Web RCE ZHONE Router 

After successfully acquiring access to susceptible Internet-exposed devices samples, Fodcha attackers use Crazyfia result data to deploy malware payload. The botnet samples, according to 360 Netlab, target MIPS, MPSL, ARM, x86, and other CPU platforms. 

The botnet used the folded[.]in command-and-control (C2) domain from January 2022 until March 19, when it switched to fridgexperts[.]cc when the cloud vendor took down the essential C2 domain. 

"The switch from v1 to v2 is due to a cloud vendor shutting down the C2 servers corresponding to the v1 version, leaving Fodcha's operators with no alternative but to re-launch v2 and upgrade C2," the researchers reported. "The new C2 is mapped to over a dozen IP addresses and is scattered across different countries, including the United States, Korea, Japan, and India." It also includes more cloud providers, including Amazon, DediPath, DigitalOcean, Linode, and others. 


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UPI
Crypto Exchange cryptocurrency Indian Government Technology UPI

Indian Crypto Exchanges Disables Deposits Via UPI System

 

Multiple Indian crypto exchanges have disabled rupee deposits using the Unified Payments Interface (UPI) system, which is the most widely used retail payment method. This comes after the National Payments Corporation of India (NPCI) said last week that it was unaware of any crypto exchange using UPI. 

The Indian government has spent years working on a law to ban or regulate cryptocurrencies, with a ban backed by the central bank over risks to financial stability. However, recently the government has taken a decision to put a tax on the income from cryptocurrency and other digital assets. 

Crypto exchange Wazirx is not offering UPI support. The exchange tweeted on Wednesday, “Currently, UPI is not available,” and advised users to do P2P payments instead, which have zero fees. The platform also added that it has no estimated time limit to address the issue with UPI deposits. Coindcx is also not supporting payments by UPI, saying on Twitter Monday, “UPI is temporarily unavailable.”

Coinswitch Kuber, with over 15 million users went one step ahead and reportedly suspended all INR deposit services, including UPI and bank transfers via NEFT, RTGS, and IMPS. The Nasdaq-listed crypto exchange Coinbase, which recently launched in India, has also disabled all purchase options, including the UPI. 

Last month, multiple reports suggested that Coinbase has begun rolling out UPI and IMPS support for its users in India after users noticed the inclusion of the two payment systems (UPI & IMPS) on Coinbase’s app. The company acknowledged the same at its launch event on 7th April. 

“We are aware of the recent statement published by NPCI regarding the use of UPI by cryptocurrency exchanges. We are committed to working with NPCI and other relevant authorities to ensure we are aligned with local expectations and industry norms,” the exchange clarified. 

An industry source with direct knowledge of the matter said the NPCI was caught between a rock and a hard place when Coinbase claimed to launch with UPI support. “Once the launch of Coinbase happened in India and they announced the usage of UPI as a payment option, NPCI realized it needed to put a clarification out there,” the person said. 

Earlier this month, popular payment service Mobikwik also disabled offering services to crypto exchanges. Meanwhile, crypto exchanges have been declining in India after the 30% tax on crypto income went into effect without allowing loss offsets or deductions on April 1. From July 1st, a 1% tax deducted at source (TDS), will also be applicable on crypto transactions. 

There are no official data available on the size of India's crypto market, but industry experts believe the number of investors ranges from 15 million to 20 million, with a holding of about Rs 40,000 crore ($5.25 billion).
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