India based discount stock broker Upstox suffers data breach

Upstox, an India based discount stock broker that enables its users to buy and sell shares suffered a data breach which has exposed some important data of people including their bank account number and their personal information like mobile number and email address.

“We have upgraded our security systems manifold recently, on the recommendations of a global cyber-security firm. We brought in the expertise of this globally renowned firm after we received emails claiming unauthorized access into our database”, the company said.

The company further added that the funds of its users are safe and protected, the funds can only be moved to their linked bank accounts. The shares are held with the respective depositor. The company has also initiated a secure password reset via an OTP.

According to independent security researcher Rajshekhar Rajaharia, this is the handiwork of ShinyHunters that has been involved in several hacking incidents including top Indian companies like BigBasket, BuyUcoin and Juspay. The data of 25-30 lakh Upstox users and 5.6 crore KYC files may have been leaked. Added a media report.

Ravi Kumar, Co-founder and CEO, Upstox said that the company takes the privacy and the security of its users very seriously and regret any inconvenience that it may have caused to their users. He further added that this incident has been reported to relevant authorities.

Last year in November, one of India’s popular grocery store BigBasket found that the data of over 2 crore users was hacked and was on sale on the Dark Web for over $40,000, which as per reports was the handiwork of ShinyHunters.

The hacker also leaked 19 lakh user records stolen from free online photo editing application Pixlr.

The hacker was allegedly behind over 44 public leaks in 2020 several of which are not yet listed, according to reports. The database they have contain information of over 125 crore people globally which include more than 20 crore Indians.

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