MobiKwik loses Rs 40 crore in 48 hours

GURGAON: Taking advantage of what is believed to be a glitch that blindsided city-based digital wallet company MobiKwik’s systems, around Rs 40 crore were allegedly siphoned off over two days, Sept 11 and 12, from the company’s account through a blitz of UPI transactions.

The fraud came to light on Tuesday after the arrest of six men whose accounts contained Rs 9 lakh of this stolen money. Uncannily, this is the second time this has happened to MobiKwik.

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