Paytm Mall denies massive data breach alleged by intelligence firm

US-based online intelligence firm Cyble alleged that a cybercrime group, ‘John Wick’ demanded ransom after gaining unrestricted access to Paytm Mall’s database on Sunday. After conducting an investigation the e-commerce platform denied any security lapse.

‘We would like to assure that all users, as well as company data are completely safe and secure and the claims are absolutely false,” a company spokesperson said in a statement after investigating the possible data breach. Cyble had revealed that the hack affected all the accounts related to Paytm Mall and there was a ransom demand too. They also added that the attack happened due to the actions of an insider and that the perpetrator had reportedly demanded 10 ETH (Ethereum) equivalent to USD 4,000

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The company assured users that it invests heavily on cybersecurity, works with the security research community and safely resolves any security anomalies. Paytm Wall said that they have a bug bounty programme to counter cybersecurity threats.