Paytm mall denied of any data breach of 3.4 million customers
Data of more than 3 million users of Paytm mall have been exposed as per the report published by the cyber security company Firefox Monitor. The compromised data includes the user’s name, gender, place, email address, mobile number, purchase history etc.
This supposed data breach is being claimed to be as of August 2020. However, it has been published after 2 years on July 26, 2022. The security company justified this stating that it takes time for the data breach to surface on the darknet and as soon as it is unearthed then post substantiation, it gets added to the database.
However, the news of the Paytm mall data breach had been circulated by a cyber security firm in August 2020, where it was alleged that the attackers were asking for a ransom in exchange of data. But after the Fintech giant Paytm threatened the security firm with criminal proceedings against the false report, the claim of data breach was retracted.
Responding to the data breach reports, Paytm Mall has denied the claims of the data breach and stated that the users’ data are completely safe. Paytm has also stated that a fake dump has been uploaded by the platform haveibeenpwned[.]com (The Firefox monitor gets its information from this platform) which is sending false alerts of the data breach on the Firefox browser and they are trying to get the issue resolved.
Paytm is a big name in mobile payments and has slowly diversified into other fintech services as loan disbursal, payment banks, investments etc. It has also launched Paytm Mall which is a B2C model connecting consumers with retailers.
With the Cyber-attacks happening at such an alarming rate, this news comes few days post the Policybazaar data breach where the IT systems were subject to illegal access. This poses a serious concern about the security preparedness of our networks which need to be addressed at the earliest.
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