Chinese AI toolkits and open models fuel ₹300 crore heist against Indian NBFCs
HimanshiET · x · 2026-10-29
Per Economic Times, cybercriminals have siphoned an estimated Rs 300 crore from Indian NBFCs in the past two months, with nearly 150 FIRs filed — about 30 in Mumbai, 25+ in Delhi, 15-16 in Chennai.
Experts say attackers combined two Chinese AI toolkits, Artex and CyberStrike, with Chinese open-source models including DeepSeek, Alibaba's Qwen, Moonshot's Kimi and Zhipu's GLM. Companies in Japan and South Korea are also under attack.
Over 2,250 organizations globally have been targeted via Artex, generating 2,900+ login attempts per minute. Smaller NBFCs with weak cyber infrastructure are the primary targets, and Indian authorities are urging rapid security upgrades.
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