AI-powered cyberattacks put Indian fintechs on alert; Shiprocket turns profitable in Q2 FY27
An advisory from the government body said the AI-assisted financial threat is still active and warns BFSI entities to treat it as an “immediate and continuing threat”.
The Indian fintech sector is on high alert due to the escalation of AI-powered cyberattacks, as warned by the cybersecurity watchdog CERT-In. The government agency has identified an active campaign called CRAFTY FALCON, which leverages AI tools to target NBFCs, fintech firms, and other financial institutions by exploiting payment systems and stealing cryptocurrency assets.
This threat remains active, affecting various entities, including NBFCs, digital lending platforms, payment aggregators, fintech firms, and crypto exchanges. Meanwhile, Shiprocket, a prominent player in the Indian e-commerce sector, has turned profitable in Q2 FY27, posting a net profit of Rs 60 lakh compared to a loss of Rs 20.3 crore in the previous year.
Revenue grew by 35% to Rs 673.6 crore, and the company repaid Rs 242 crore in borrowings following its IPO, achieving a debt-free status by the end of the first half.
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