Kochi-based cybersecurity agency detects data breach on trading platform

KOCHI: A Kochi-based cybersecurity and big data startup, Technisanct, has unearthed a critical data breach on a trading platform based in the country. According to Technisanct, the personal identifiable information (PII) of over 3.4 million customers were compromised.

PII includes name, contact number, city, country, and customer, email, trade login and branch IDs were leaked. Technisanct has reported the matter to the Computer Emergency Response Team (CERT) India, and accordingly the name of the platform has been kept confidential. The security breach was identified by Technisanct’s digital risk monitoring tool ‘Integrite’.

Data regarding customers has been on sale on a data-sharing platform. The information was published on June 15 and the incident was reported to CERT by Technisanct.“These incidents would surely increase the chances of potential financial frauds among Indians.

The details in the database could be used by cyber criminals to target the victims of breach through various scams. The lack of a data security authority in India has resulted in a massive increase in the number of such cases. The non-existence of a regulatory body paves the way to repeated breaches with the same brand,” said Nandakishore Harikumar, founder and CEO of Technisanct.