- Stockal reported losses on two or more Indian platforms after the DriveWealth breach.
- DriveWealth notified Borderless of unauthorized trades in 13 US customer accounts.
- 26 accounts were accessed using valid credentials, 23 linked to DriveWealth platforms.
Stockal stated that investors on a minimum of two or more more Indian platforms that offer overseas investing have suffered substantial losses following the DriveWealth breach.
A list of 29 Indian platforms associated with DriveWealth through direct, indirect and historical relationships has been identified.
ALSO READ: Rs 100-Cr Hit: Indian Investors Allege Unauthorised Apple-Nvidia Swap For Chinese Stock On Stockal
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
In a statement posted on LinkedIn on Nov. 4, Borderless said its US brokerage and custody partner, DriveWealth, had notified it of unauthorised trading activity in 13 customer accounts on Oct. 16, India time. The company said an unauthorised third party appeared to have accessed 26 accounts using valid login credentials.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Of these, 23 have documented direct, indirect or historical routes to DriveWealth, while six are listed as partners in the Stockal/Borderless ecosystem. Their individual DriveWealth routing has not been verified.
The company said access to the affected accounts was restricted shortly after it received the notification. It added that its investigation had found no evidence of a breach or compromise of the Borderless platform, interface, infrastructure or internal systems.
Stockal has said that investors on at least 2 more Indian platforms that invest abroad have had substantial losses. Here is the complete list of Indian platforms associated with DriveWealth. https://t.co/eKUH5Kv5Sv
— Ravi Handa (@ravihanda) November 6, 2026
Borderless said the affected customers may have been victims of a social engineering attack involving information exposed in another company's data breach several weeks earlier. It clarified that the possible connection remained unconfirmed and was under investigation.
The 23 platforms with documented direct, indirect or historical relationships are as follows:
Platform | Route to DriveWealth |
|---|---|
Vested Finance | Direct |
INDmoney | Direct |
Stockal/Borderless | Direct |
Appreciate | Direct |
Motilal Oswal Riise | Direct |
Angel One | Direct (GIFT City) |
Axis Direct | Via Vested |
5paisa | Via Vested |
Geojit Global | Via Stockal |
Cube Wealth | Via Stockal |
HDFC Securities | Historically via Stockal; later Vested |
Kuvera | Via Vested |
Winvesta | Direct (historical) |
Accrue | Via Stockal |
ShiftAlt Capital | Via Stockal |
Progressive Shares/Invest 360 | Via Borderless/Stockal |
Swastika Investmart | Direct |
IIFL Securities/IIFL Capital Services | Via Stockal |
Scripbax | Via Stockal |
Centrum Wealth | Via Stockal |
Ajmera Capital | Via Stockal |
Nivesh Mitr | Via Stockal |
Benchmark Investments | Via Motilal Oswal/Stockal |
ALSO READ: Stockal Fraud Case: HDFC Securities Says It Is Not An Accused, Partnership Ended In 2024
The following six platforms are listed as partners in the Stockal/Borderless ecosystem. Their individual routing through DriveWealth was not verified.
Stoxkart
Emkay Global Financial Services
Credence
Alankit
FINTSO
Monarch Networth Capital
Some of the identified relationships are no longer active. This includes HDFC Securities' arrangement with Stockal, which ended in July 2024, Winvesta moving to Alpaca after its 2020 partnership with DriveWealth and Scripbax halting the offer of direct US stock trades.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
