Indian security operatives have arrested two Nigerian nationals over their alleged involvement in an international cybercrime syndicate accused of hacking cooperative banks and stealing large sums from financial institutions.
The suspects, identified as Modebe Joseph, 42, and Sunday Okonkwo, 35, were apprehended in Noida, located in Uttar Pradesh, during an operation carried out by the cybercrime unit of the Gautam Buddh Nagar Police Commissionerate.
Investigators linked the suspects to a cyber threat network identified as “Solar Spider,” a group believed to specialise in exploiting weak cybersecurity systems in banks.
Police authorities said the group allegedly carried out an unauthorised transfer of about ₹7 crore, estimated at roughly ₦1bn, from a cooperative bank account over the weekend of March 7 and 8 when the financial institution was closed.
According to investigators, the timing of the operation was deliberately chosen to delay detection and allow enough time for the funds to be moved or laundered before the bank resumed operations.
The Deputy Commissioner of Police, Shavya Goyal, said preliminary findings indicated that the suspects were connected to a wider international criminal network with operational links to groups in Nigeria and South Africa.
Authorities also disclosed that the syndicate was believed to be involved in other attempted fraud operations that could have resulted in losses of up to ₹80 crore, although the current investigation is focused on the ₹7 crore transaction.
Police noted that the incident highlights the growing threat of cross-border cybercrime targeting financial institutions with weak digital security systems.
The suspects remain in police custody while investigations continue to determine the full structure of the syndicate and identify other individuals involved in the operation.
