{
  "id": 18090658,
  "title": "Stockal Investors Allege Over ₹100 Crore Losses In Unauthorised US Stock Trades",
  "url": "https://urgent.news/2026/11/04/stockal-investors-allege-over-100-crore-losses-in-unauthorised-us",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-04T07:26:46.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/stockal-investors-allege-over-100-crore-losses-in-unauthorised-us-stock-trades"
  },
  "original_language": "en",
  "account": "Over one hundred million rupees in losses have been alleged by approximately thirty investors who claim their US stock portfolios were subjected to unauthorized trades through the fintech platform Stockal. The parent company, Borderless, revealed that an unauthorized third party gained access to twenty-six customer accounts, using valid login credentials, resulting in unauthorized trades on October 15 during US market hours. These trades sold existing holdings in well-known companies like Apple, Nvidia, Amazon, Tesla, Alphabet, and AMD, and repurchased thinly traded shares of Zhibao Technology Inc (NASDAQ: ZBAO), a US-listed Chinese company. Borderless's US brokerage and custody partner, DriveWealth, notified the company of suspicious transactions on October 16, leading to the restriction of affected accounts and the discovery of no evidence of a breach in their platform, infrastructure, or internal systems.\n\nThe incident has raised concerns about intermediary risk for Indian investors. Independent cybersecurity specialists have been enlisted to investigate the matter. Borderless is currently examining the possibility that a social engineering attack, potentially stemming from a previous data breach, may have facilitated the unauthorized access. However, they have stressed that this connection remains unconfirmed. The company has also introduced additional authentication and account-protection measures.\n\nBorderless is collaborating with DriveWealth to review transactions and explore possible resolutions for affected customers. They have stated that their assistance does not equate to an admission of liability or wrongdoing. Stockal has suggested that compromised email accounts, phishing, or other social engineering methods may have led to the exposure of customer login credentials. In response, DriveWealth has disputed this responsibility in a letter to an affected investor, attributing any security lapses to the Indian platform. As investigations continue, the responsibility for the disputed transactions remains unresolved.",
  "summary": "Around 30 investors have alleged losses exceeding Rs100 crore after unauthorised trades were executed in their US stock portfolios through fintech platform Stockal. Stockal's parent company, Borderless, said an unauthorised third party accessed 26 customer accounts using valid login credentials. Of these, 13 accounts experienced unauthorised trading. The transactions occurred during US market…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}