Zerodha to introduce feature that will prevent orders for options from being placed at abnormal prices
The Mumbai Police arrested five people this week on suspicion of gaining access to the share broker’s demat accounts.
Zerodha will soon introduce a feature that will prevent orders for options from being placed at abnormal prices.
Fraudsters generate fictitious losses by trading illiquid options (buy high, sell low) or investing in dubious penny stocks.
Hackers’ methods include sending fake websites to random people via text messages, e-mails, and social media and capturing their username, password, personal identification number, or date of birth.
Hackers then use these credentials to gain access to the investor’s trading account and execute buy or sell orders on illiquid penny stocks.
Last month, India’s capital markets regulator mandated that stock brokers and depository participants report all cyber attacks, threats, and breaches within six hours.