Nasdaq-traded Zoomcar discloses data breach affecting 8.4M users in India
Zoomcar, a car-sharing business, is traded on Nasdaq. The company revealed that a hacker accessed the personal data of at least 8.4 million customers in India, according to the U.S. Securities and Exchange Commission. File Photo by Angelina Katsanis/UPI | License Photo
June 16 (UPI) -- Zoomcar, a car-sharing business, has revealed that a hacker accessed the personal data of at least 8.4 million customers in India, according to the U.S. Securities and Exchange Commission.
The SEC was notified of the data breach because it became a public company in Delaware in late 2023 after a merger with an American blank-check firm IOAC. Its shares are traded on the Nasdaq exchange and the price declined 12.3% Monday.
Founded in 2013 by two American men, Zoomcar allows customers to rent cars on a monthly, weekly, daily and hourly basis in 99 cities in India. There are more than 25,000 cars and 10 million users, according to its investor website.
The data was accessed on June 9, according to the filing on Friday.
Zoomcar, which is based in Bangalore, said it became aware of the incident after some employees received external communications from a threat actor alleging unauthorized access to company data. The company then activated its incident response plan.
After a preliminary investigation, the company determined that an unauthorized third party accessed a limited dataset containing certain personal information of a subset of approximately 8.4 million users. It included names, phone numbers, car registration numbers, personal addresses and email addresses associated with such users.
The company said there is no evidence that financial information, plaintext passwords or other sensitive identifiers were compromised.
Zoomcar said it has implemented additional safeguards across the cloud and internal network. This includes increasing system monitoring and reviewing access controls, according to the SEC filing.
Also, the company is working with third-party cybersecurity experts to further assist with the investigation.
"The company has also notified the appropriate regulatory and law enforcement authorities and is cooperating fully with their inquiries," the SEC said.
In February, Zoomcar reported a 19% increase in car rentals in one year to 103,599 bookings. The company had a net loss of $7.9 million.
"To date, the incident has not resulted in any material disruption to the company's operations," the company told Tech Crunch.
In 2018, Zoomcar had a data breach that exposed records of more than 3.5 million customers. That data was eventually offered for sale on an underground marketplace in 2020, Bleeping Computer reported.
In the United States, car-sharing businesses are Zipcar, a subsidiary of Avis Budget Group, and Enterprise CarShare, which is part of Enterprise Rent-A-Car. Turo isd privately held buy a group of investors.
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