MobiKwik denies data breach of 3.5 mn users amid IPO plans

Digital pockets and funds firm MobiKwik, reportedly planning an preliminary public providing (IPO) round September this yr to boost $200-250 million, on Monday denied claims that delicate data of hundreds of thousands of its users has been leaked. Independent cybersecurity researchers have claimed {that a} database containing KYC particulars of practically 3.5 million users of MobiKwik is up on the market on the Dark Web.

First tweeted by impartial cybersecurity researcher Rajshekhar Rajaharia after which by French researcher Elliot Alderson on Monday, the alleged breach consists of 8.2TB data containing users’ cellphone numbers, emails, hashed passwords, addresses, financial institution accounts, and card particulars. MobiKwik, nevertheless, vehemently denied any such breach.

“Some media-crazed so-called security researchers have repeatedly attempted to present concocted files wasting precious time of our organisation as well as members of the media,” the corporate stated in an announcement shared with IANS. “We thoroughly investigated and did not find any security lapses. Our user and company data is completely safe and secure,” the corporate added. 

Alderson had tweeted: “Probably the largest KYC data leak in history.”

Rajaharia had claimed earlier that “11 crore Indian cardholder’s cards’ data including personal details and KYC soft copy (PAN, Aadhaar, etc) allegedly leaked from the company’s server in India”.

According to the researchers, the complete database is accessible for 1.5 Bitcoin (practically $84,000) on the Dark Web. The studies surfaced as MobiKwik final week raised $7.2 million in a funding spherical previous to the itemizing on the inventory trade, in line with regulatory filings with the Ministry of Corporate Affairs.

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