In a startling incident, hackers breached the server of the Bhavnagar District Cooperative Bank in Gujarat, siphoning off around ₹7 crore through unauthorized transactions, officials confirmed. The fraud was uncovered after over 350 suspicious transactions occurred on Sunday.
Transactions were made from accounts at four branches—Talaja, Bharatnagar, Subhashnagar, and Sidsar—with the stolen funds routed to various other banks. This marks a significant first for Gujarat; it’s the first instance where a bank’s server has been hacked directly for such large-scale theft.
The State Cyber Cell based in Gandhinagar is now investigating the case. Meanwhile, the bank plans to file a formal complaint with state cyber authorities since incidents involving losses exceeding ₹2 crore are managed at this level.
Investigators disclosed that the hackers accessed the bank’s software system through a mobile application and circumvented security measures across all four branches. Each transaction reportedly had a cap of ₹2 lakh, making it easier to transfer substantial amounts without immediate detection. Digital evidence indicates that at least four mobile phones were utilized during these fraudulent activities.
Rasikbhai Bhingradia, chairman of the bank, assured stakeholders that they were notified promptly after discovering the breach. He emphasized customer safety: “Deposits remain safe,” he said. The bank operates 88 branches with approximately seven lakh account holders.
Following this breach, certain transactions have been temporarily suspended as officials work swiftly to rectify security vulnerabilities. Normal banking operations are expected to resume by Wednesday.