MobiKwik CEO Bipin Preet Singh said on Tuesday that the company was investigating claims by some users that their data was available on the dark web. He said the company would ask a third party to conduct a forensic data security audit.

In response to reports of a massive data breach in MobiKwik’s servers, Singh issued a detailed statement and said that it is possible that any user could have uploaded their information to multiple platforms and that they would be incorrect to say that they have been viewed by the company or any identified source.

“When this matter was first reported last month, the company conducted a full investigation with the help of outside security experts and found no evidence of a breach,” he said. highlighted.

He added that the company is working closely with the relevant authorities and is confident that the security protocols for storing sensitive data are robust and have not been breached.

“For our users, we reiterate that all of your MobiKwik accounts and balances are completely safe,” he said, adding that all financially sensitive data is stored in encrypted form in the company’s database.

According to independent cybersecurity researchers, the personal data of 3.5 million MobiKwik users appears to have been leaked and is available for sale on the dark web.

The flaw was first reported by French cybersecurity researcher Elliot Alderson on March 29, but before that it was raised by internet security researcher Rajshekhar Rajaharia in early March.

In his statement, Singh pointed out that MobiKwik has robust internal policies and information security protocols and is subject to strict compliance measures, including annual security audits.

In order to assure users, he said that no misuse of credit cards, debit cards and wallet details is possible without a one-time password, which is only received on the registered mobile phone. He also urged users not to open dark websites or anonymous links.

Founded in 2009, MobiKwik’s payment network is one of the largest in India with over 120 million users, three million merchants and over 300 billers.