The youth, however, claimed that the incident took place after completion of the dare of an online game.
According to reports, the incident came to light on May 12 when the victimised school teacher, identified as Hariwansh Lal Srivastava, filed a complaint with the police.
A case was registered in the Bilariyaganj police station in connection with the incident.
Srivastava, in his complaint mentioned that Rs 10 lakh had been debited from his bank account from April 10 and May 12.
Bilariyaganj Police, after registering the case launched an investigation on the basis of the complaint.
The police used electronic surveillance during the investigation to trace the mobile phone used for hacking the bank account of Srivastava.
During investigation, it was found that the mobile phone was being operated from the Lohia Nagar area in Agra and it was registered in the name of Sagar Singh.
A team of police went to the spot after the location of Sagar Singh was traced and arrested him on Saturday.
Reports say, Sagar, a 20-year-old college student, during interrogation, confessed to hacking the bank account.
But he claimed that the bank account was hacked to complete a dare of an international online game.
He reportedly revealed that the game is known as Fire Power which enables people to make money by using their abilities to hack.
The reports said the youth started playing the online game during the lockdown.
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