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MobiKwik Loses Over $3 Mn From Its Bank Due To Glitch In Digital Wallet

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29.09.2017

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Gurugram-based digital wallet MobiKwik has lost over $3 Mn (INR 19.61 Cr) due to a technical glitch.

A company official said the money was deducted from MobiKwik’s corporate account during online transactions made by individual customers. These wallet transactions were pertaining to recharge, bill payment, shopping etc.

A Mobikwik spokesperson told Inc42, “We detected a financial discrepancy on the company by some unidentified persons. We reassure that our users’ data and money is safe and secure and is not compromised and also payment gateway transactions are safe and secure with strong firewalls. We have taken immediate action by lodging FIR with Gurgaon police cyber cell for criminal investigation and to punish the culprits.”

While earlier reports suggested that the loss was caused by a technical glitch, MobiKwik’s stance on the situation may hint........

© Inc42