Upstox allegedly fell a victim to cyber-attack recently. The company received emails claiming unauthorised access into their database, indicating a breach from third-party data-warehouse systems. This includes compromise of contact data and KYC details of the users.
As reported by the Times of India, some security analysts tweeted on Saturday, April 10, 2021, about the breach exposing data of 25 lakh users.
Ravi Kumar, Co-founder & CEO Upstox through a website announcement assured the users that the security systems have been strengthened manifold. The funds and securities are protected and remain safe. Further, as an additional precautionary measure, a secure password reset via OTP has also been initiated, he said.
The company has reported this incident to the relevant authorities.
Upstox offers stockbroking services, mutual funds and global investment to its investors and is backed by some of the big names like Tiger Global and Ratan Tata. It is also an official partner of the ongoing Indian Premier League (IPL).
