Exploiting System Vulnerability, Over 10.9 Million Drams Stolen

The investigation into a particularly large-scale computer theft case has concluded in the Cybercrime and High Technologies Investigation Department of the RA Investigative Committee, concerning yet another individual.

During the investigation, factual data was obtained indicating that an individual, K.G., had become aware of a technical flaw in the company's electronic application that allowed for transfers between accounts without verifying the account balance. With the direct intent to steal someone else's property, he unlawfully entered various amounts of money purportedly available in his bank account into the company’s system between April 4-8, 2024, without legal, contractual, or any other lawful authorization.

Subsequently, due to the aforementioned technical flaw, a particularly large amount of 10,907,000 Armenian drams was generated in the balance of the company’s electronic wallet and his bank account, which was stolen through transfers to other bank cards. The criminal proceedings against K.G. have been sent to the supervising prosecutor with an indictment conclusion.