₹11.55-Crore Bank Cyber Heist: Panama-Based VPN Used; 7 Arrested, Nigerian Suspect Makes Key Revelations

Shimla: A technical audit by the Cyber Crime Cell, Shimla, has confirmed that a Panama-based Virtual Private Network (VPN) was used to breach the core banking server of the Himachal Pradesh State Cooperative Bank in the ₹11.55-crore cyber fraud reported earlier this year.

Investigators have issued a formal notice to the VPN provider, seeking detailed logs and metadata linked to the suspicious IP addresses used during the remote intrusion on 16 May 2025. Once inside the server, the hackers swiftly transferred ₹11,55,56,417 to multiple bank accounts across Mumbai, Jaipur, Uttar Pradesh, Rajasthan, Karnataka and other regions.

Seven people — including Nigerian national Ben Arinze alias Jonou Maglory Martin — have been arrested so far. Officials said Arinze has made crucial disclosures during interrogation. He admitted that the mastermind, known by the alias “KK”, approached him before the breach. Arinze allegedly demanded a 2% commission for helping route the stolen money through a network of mule accounts.

Investigators found that accomplices Suresh Babu and Silvester Britto arranged several bank accounts under the names Dhanshree Souhard Cooperative Ltd. and Extreem. These accounts were handed to accused Shavaz Pasha, who later forwarded them to Arinze while he was living in Channasandra, Whitefield (Bengaluru). Arinze was arrested on 17 August 2025 after police traced his digital footprint.

Authorities believe Arinze acted as a key link between the hacker, the mastermind and the individuals responsible for sourcing accounts used to launder funds. The operation has already exposed interstate and international links stretching from Maharashtra and Rajasthan to Nigeria.

The Cyber Crime Cell has so far recovered ₹2.5 crore from the siphoned amount. Police teams across Karnataka and other states are now tracking remaining fund movements and freezing additional accounts.

Forensic experts are analysing laptops, mobile phones and network devices seized from the accused to uncover communication logs, encrypted files and financial trails. Officials are also probing whether the gang used additional proxy servers, forged documents, shell companies or other digital tools to evade detection.

Described as one of Himachal Pradesh’s most sophisticated cyber frauds, the case is expected to reveal more foreign connections and financial nodes as the investigation expands.