MobiKwik, however, vehemently denied any such breach.
"Some media-crazed so-called security researchers have repeatedly attempted to present concocted files wasting precious time of our organisation as well as members of the media," the company said in a statement shared with IANS.
"We thoroughly investigated and did not find any security lapses. Our user and company data is completely safe and secure," the company added.
Alderson had tweeted: "Probably the largest KYC data leak in history."
Rajaharia had claimed earlier that "11 crore Indian cardholder's cards' data including personal details and KYC soft copy (PAN, Aadhaar etc) allegedly leaked from the company's server in India".
According to the researchers, the entire database is available for 1.5 Bitcoin (nearly $84,000) on the Dark Web.
The reports surfaced as MobiKwik last week raised $7.2 million in a funding round prior to the listing on the stock exchange, according to regulatory filings with the Ministry of Corporate Affairs.
According to Entrackr, Mobikwik's post-money valuation currently stands at $493 million with the latest funding round.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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