poornima lagadapati
Active member
The e-commerce arm of payment giant Paytm has suffered a data breach according to US-based cyber research firm Cyble, after a hacker group targeted the company’s PayTM Mall database. The attackers are demanding a ransom in cryptocurrency in exchange for the data, the firm said.PayTM Mall however denied the breach in a statement to ET.Hacker group John Wick is behind the breach, according to Cyble. According to experts, the group hacks databases of companies under the guise of offering help to fix bugs in their systems. “This (breach) was tipped off to us from an “alleged” ex-cartel member of a credible hacking group “John Wick“, the company said in a blog post.
The group was able to gain access to Paytm Mall’s database through a backdoor, it said. However the volume of the data breach was not specified.The perpetrator of the breach has demanded 10 ETH (Ethereum) in cryptocurrency, according to Cyble. This is approximately equivalent to $4,000 according to data based on crypto currency exchange, Coinbase.
ET could not independently verify the data breach.
Visit
[/URL]
To download Paytm app now
And to visit the official website, click on -
[/URL]
Paytm is an Indian e-commerce payment system and financial technology company, based in Noida, Uttar Pradesh, India.
What is PayTM mall?
In February 2017, Paytm launched its Paytm Mall app, which allows consumers to shop from 1.4 lakh registered sellers.Paytm Mall is a B2C model inspired by China's largest B2C retail platform TMall. Sellers have to pass through Paytm-certified warehouses and channels to ensure consumer trust. Paytm Mall has set up 17 fulfillment centers across India and partnered with more than 40 couriers. Paytm Mall raised $200 million from Alibaba Group and SAIF Partners in March 2018. In May 2018, it posted a loss of approximately Rs 1,800 crore with a revenue of Rs 774 crore for financial year 2018. Additionally, the market share of Paytm Mall dropped to 3 percent in 2018 from 5.6 percent in 2017.
Paytm is an Indian e-commerce payment system and fin-tech company. Paytm is owned by the Indian company One97 Communications Ltd., based in Noida. That being said, the popular payments platform has large funding from Ant Financials, which is a part of China's Alibaba group.
The group was able to gain access to Paytm Mall’s database through a backdoor, it said. However the volume of the data breach was not specified.The perpetrator of the breach has demanded 10 ETH (Ethereum) in cryptocurrency, according to Cyble. This is approximately equivalent to $4,000 according to data based on crypto currency exchange, Coinbase.
ET could not independently verify the data breach.
Visit
[/URL]
To download Paytm app now
And to visit the official website, click on -
[/URL]
Paytm is an Indian e-commerce payment system and financial technology company, based in Noida, Uttar Pradesh, India.
What is PayTM mall?
In February 2017, Paytm launched its Paytm Mall app, which allows consumers to shop from 1.4 lakh registered sellers.Paytm Mall is a B2C model inspired by China's largest B2C retail platform TMall. Sellers have to pass through Paytm-certified warehouses and channels to ensure consumer trust. Paytm Mall has set up 17 fulfillment centers across India and partnered with more than 40 couriers. Paytm Mall raised $200 million from Alibaba Group and SAIF Partners in March 2018. In May 2018, it posted a loss of approximately Rs 1,800 crore with a revenue of Rs 774 crore for financial year 2018. Additionally, the market share of Paytm Mall dropped to 3 percent in 2018 from 5.6 percent in 2017.
Paytm is an Indian e-commerce payment system and fin-tech company. Paytm is owned by the Indian company One97 Communications Ltd., based in Noida. That being said, the popular payments platform has large funding from Ant Financials, which is a part of China's Alibaba group.