WkWebView loading local image files 404

Whenever I try to load a local image using <img> tag I get 404 not found. If I use this same src url with ionic-image-loader it works fine. I don’t want to have to use this plugin just to load local image files.

Request url is as follows
http://localhost:8080/var/mobile/Containers/Data/Application/6A8B0F77-D427-48B6-AB56-2C064959722A/Library/NoCloud/1537703623385bnzz9local.jpg

Image container dump shows following contents, which clearly has the file requested

How can I fix this issue?