Retail broker Upstox informs users of data breach, assures safety of securities, funds

Retail broking firm Upstox has alerted its users of a security
breach on its system that included user data such as contact details and KYC-related
details of customers, assuring users, however, their funds and securities
remained at the company’s disposal, PTI reported.

The incident closely follows similar developments in organisations
such as MobiKwik, Facebook and LinkedIn.

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“On receipt of e-mails claiming unauthorised access into our
database, we have appointed a leading international cyber-security firm to
investigate possibilities of breach of some KYC data stored in third-party data
warehouse systems. This morning, hackers put up a sample of our data on the
dark web,” PTI quoted an Upstox spokesperson as saying regarding the incident via
an e-mailed statement.

It was further intimated that multiple security enhancements,
24X7 real-time monitoring and a secure password reset system using OTP had been
established in the network after the incident.

The spokesperson, however, noted that the number of
customers whose data had been left exposed was not precisely clear.

Also read: Facebook data breach: How to keep yourself safe

“We have upgraded our security systems in light of recent
events around unauthorized database access”, the company tweeted out on Sunday,
offering users access to a statement from Upstox Co-founder and CEO Ravi Kumar
which listed out the new security measures.

The company is backed by investors by Ratan Tata and Tiger
Global, and has nearly three million users.