Upstox confirms Data Breach; Claims Funds and securities are safe
India’s popular Trading app Upstox has alerted customers of a security breach that exposed customer data of around 2.5 million customers. It confirmed that hackers gained access to contact data and KYC details of customers, but their funds and securities remain safe despite the breach.
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Upstox also claims that it has enhanced the security of its servers to avoid this in the future. The company has also initiated a secure password reset via OTP for all Upstox users. Upstox has also ramped up its bug bounty programme to make its platform more secure to avoid security breaches. All the Upstox customers are advised to change their passwords to be on the safer side.
Upstox has nearly 3 million customers and is the 2nd biggest broker app after Zerodha. The company is backed by investors like Tiger Global and Ratan Tata.
Recently there were reports that KYC data of around 11 crore customers is up for sale. Later RBI had asked fo the report for the firm., some other big companies including LinkedIn and Facebook also suffered data breach recently.