Massive Data Breach Hits Indian Software Company, Exposing Over 1.5 million Records
A hacker identified as @303 has reportedly breached an India-based software firm on December 19, 2024, compromising over 1.59 million rows of sensitive data, including customer details and administrative credentials.
The stolen data first appeared on a dark web forum, shared by a user named "frog." The leak includes email addresses from top Indian insurance companies, phone numbers, and potentially confidential admin access credentials. The exposed SQL database file is said to contain customer policy data, contact information, and internal system commands—posing a serious risk to affected organizations’ security systems.
The incident has sparked concerns about the company’s cybersecurity posture, particularly in light of its public claim to “protect data with unwavering diligence.”
In response to the growing threat landscape, the Insurance Regulatory and Development Authority of India (IRDAI) has taken a firmer stance on cybersecurity. In March 2025, the regulator mandated that all insurers appoint forensic auditors in advance and conduct comprehensive IT system audits following any data leaks.
Cybersecurity analysts warn that the stolen data could be misused for identity theft, targeted phishing attacks, and unauthorized access to systems.
A recent IBM report revealed that the average cost of a data breach in India rose to ₹19.5 crore in 2024, with the insurance sector among the most impacted.
This breach adds to a growing list of cyber incidents in India’s insurance industry, including the Star Health Insurance breach in October 2024 that affected 31 million customers, and a suspected leak at Niva Bupa Health Insurance in February 2025.
“This case underscores the persistent vulnerabilities in India’s financial services sector,” said a cybersecurity expert. “Companies that manage sensitive customer information must adopt stronger defenses, including regular security audits and employee awareness training.”
With cyberattacks in India increasing by 261% in Q1 2024 alone, this latest breach highlights the urgent need for stronger data protection measures across the insurance and financial industries.
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