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MobiKwik controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2024

    Xtra withdrawal-policy controversy

    Users criticized the suspension of anytime withdrawals on Xtra, claiming that funds were being reinvested into new borrowers without their consent. MobiKwik said the policy had been changed by its P2P partner, Lendbox, and that withdrawals were no longer available under the previous terms.

  2. 2021

    Alleged KYC-data exposure

    Security researchers alleged that KYC information connected to nearly 100 million MobiKwik users had been obtained and circulated on the dark web. MobiKwik denied the allegation and said it would pursue legal action, while later independent reporting and user accounts indicated that related data was available online. The company subsequently engaged a third party to conduct a forensic security audit.

  3. 2021

    RBI examines MobiKwik forensic audit report

    Investigation

    An RTI response revealed that the Reserve Bank of India was examining a third-party forensic audit report submitted by MobiKwik concerning allegations of a data breach.

    Source excerpt

    • The payment startup has submitted its third-party forensic audit report to the financial regulator and is being currently examined by the RBI, an RTI response revealed.
    • MobiKwik, which allegedly suffered a data breach earlier this year, is still under the Reserve Bank of India’s scanner.
  4. 2021

    MobiKwik faces allegations of a user-data leak

    Issue disclosure

    A security researcher claimed that personal information belonging to 3.5 million users was offered for sale on the dark web, and users reportedly said they found their details there. MobiKwik denied that the data came from its systems, said its investigation found no evidence of a breach, and said it would arrange a third-party forensic data-security audit.

    Company response

    • Investigation — MobiKwik

      When this matter was first reported last month, the company undertook a thorough investigation with the help of external security experts and did not find any evidence of a breach.
    • Denial — MobiKwik

      However, Mobiwik has outrightly denied the claims made by Rajaharia.
    • Investigation — MobiKwik

      Considering the seriousness of the allegations. and by way of abundant caution, it will get a third party to conduct a forensic data security audit.

    Source excerpt

    • However, Mobiwik has outrightly denied the claims made by Rajaharia.
    • Some users have reported that their data is visible on the dark web.
    • Payment app Mobiwik came under the scanner on Monday after a security researcher claimed that the data of 3.5 million users were put up for sale on the dark web.