Bengaluru BTech grad hacks Reward-360's website, steals 4.5 lakh vouchers to buy goods worth Rs 4.2 crore

A 23-year-old BTech graduate from Bengaluru has reportedly hacked reward-point website linked to a private bank, stealing 4.5 lakh gift vouchers and then used those to procure goods, including gold, valued at nearly Rs 4.2 crore.

Identified as Bodalur Lakshmipati, the Bengaluru BTech grad reportedly carried out the heist in over a span of five months, from February to June this year, according to a report of the Times of India.

Lakshmipati, a resident of Whitefield and hailing from Chittoor in Andhra Pradesh, has been sent to judicial custody at Bengaluru Central Prison.


Hacking Genesis: Debit and Credit Cards
According to the police, the initial alarm was raised in June when Reward-360 reported unauthorised utilisation of their gift vouchers.

The accused initially obtained debit and credit cards from a private bank but was denied the associated reward points. Undeterred, he took a different route.

In response to the bank's refusal, Lakshmipati crafted a software program capable of generating the codes present on the gift vouchers. The bank had initially offered him four vouchers, but this wasn't sufficient for Lakshmipati. He devised a program to continually exploit Reward-360's servers, responsible for handling the bank's gift vouchers. This relentless pursuit enabled him to amass an unlimited number of vouchers, which he subsequently converted into a substantial amount of digital currency.

With his ill-gotten gains, Lakshmipati ventured into the precious metals market, investing in commodities like gold and silver. Following a thorough investigation by the cybercrime police, southeast division, the accused was traced to his Whitefield residence and taken into custody. Authorities also discovered that Lakshmipati had stored the gold and silver in a bank locker in Chittoor, along with other assets, including seven two-wheelers, seized from his residence in Whitefield.

Police reports revealed that Lakshmipati had completed his BTech in computer science from a prestigious institution. He had relocated to Bengaluru around two years ago, joining a software company as an engineer. Additionally, he had spent several months in Dubai for work but decided to quit his job in January of this year.