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UpStox Stock broker farm hacking case , 25 lakhs customers data stolen from database

 

UpStox Stock broker farm hacking case , 25 lakhs customers data stolen from database

* Upstox , the country's second largest stock broker in terms of number of customers operating over the platform reported a major online security breach with hackers stealing the KYC and customers data .

 

* The data breach happened at a third party data warehouse and the collected data has been put / auctioned /sold over the dark web as per sources

 

* Dark Web is the place where illegal transaction of confidential data takes place between the parties involved in this criminal act .

 

* It is believed that such kind of data is leveraged by data brokers / data breachers to hack into the bank/demat accounts of the purported customers in order to steal money from them

 

* As you may be aware through some movies in which a hacker generally writes an automated code which would allow the hacker to creep into multiple accounts using the login information in an automated manner and deduct some token amount as mentioned in the program with respect to each of the accounts which forms as a adhoc database for the process . Following this , some amount/

all amount is auto deducted from the customers account and it is credited into the account of the program (here , its referred to as Malware) creator for the transaction process