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flag A MobiKwik software glitch enabled ₹40 crore in fraud via 500,000 fake UPI transactions in two days, September 2025.

flag A software glitch at digital wallet provider MobiKwik allowed nearly 5 lakh fraudulent UPI transactions, draining about ₹40 crore from user wallets in two days in September 2025. flag The flaw, triggered by a recent update, bypassed balance checks and incorrect PIN requirements. flag Authorities froze ₹8 crore and arrested six individuals, with more arrests expected. flag This marks MobiKwik’s second major breach, following a ₹19 crore fraud in 2017. flag The company is pursuing recovery and legal action, with police investigating potential insider involvement.

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