In a fresh scare of a data breach, brokerage firm Upstox company alerted users on Sunday of a possibility of compromise of users' contact and KYC data.

The company said it has received emails claiming unauthorized access into the database and compromise of some contact data and KYC details from third-party data-warehouse systems.

Upstox assured users that their funds were safe. "We would like to assure you that your funds and securities are protected and remain safe. " Upstox said the incident has been reported to relevant authorities, and it had enhanced security 'manifold'.

Here is an excerpt of the statement by Upstox CEO Ravi Kumar on the issue:

"We have upgraded our security systems manifold recently, on the recommendations of a global cyber-security firm. We brought in the expertise of this globally renowned firm after we received emails claiming unauthorized access to our database. These claims suggested that some contact data and KYC details may have been compromised from third-party data-warehouse systems."

"We would like to assure you that your funds and securities are protected and remain safe. Funds can only be moved to your linked bank accounts and your securities are held with the relevant depositories. As a matter of abundant caution, we have also initiated a secure password reset via OTP."

"Through this time, we have also strongly fortified our systems to the highest standards."

"While we have already reported this incident to the relevant authorities, we deeply regret any inconvenience this may have caused you. "

Serious data breaches have been reported in recent months that may have leaked the data of millions of users of platforms such as Mobikwik, Juspay, and others, according to cybersecurity experts.

First Published:Apr 11, 2021 8:56 PM IST