Aditya Birla Capital Ltd.'s money management subsidiary was hit by a cyber attack on June 9, with digital gold worth around Rs 2 crore sold from over 400 accounts.
The company detected unauthorised access to digital gold worth Rs 1.95 crore from 435 accounts. These holdings were restored to affected customers soon after, officials from Aditya Birla Capital Digital confirmed to NDTV Profit.
They added that corrective action was also taken to freeze fund transfers across multiple bank accounts and that the technical vulnerabilities around cyber hack had been resolved since.
While an investigation is still going on to find the perpetrators of the cyber hack, Aditya Birla Capital Digital said it is working with cyber insurance partners, law enforcement and CERT-In to ensure implementation of corrective actions.
Free Press Journal was the first to report on the cyber hack.
A first information report was lodged in Mumbai following a complaint by Aditya Birla Capital Digital, after which, the Central Region Cyber Police launched an investigation into the issue.
The perpetrator was found to have hacked into ABCD's application programming interface and its server, and then bypassed the mandatory OTP verification process to transfer the digital gold.
Once customers reported the transfer of their gold assets without due authorisation, ABCD temporarily suspended the digital gold selling feature.
All the digital gold services are secure and live on the platform now, Aditya Birla Capital Digital officials confirmed.
ABCD said it buys and sells digital gold through a government-authorised entity and all its transactions are processed via Razorpay.
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