Angel One reports data breach, shares fall but client accounts remain safe

The company has engaged an external forensic partner to thoroughly investigate the breach, determine the extent of its impact, and pinpoint the root cause of the incident

The shares of Angel One, a leading retail stockbroking firm in India, experienced a significant drop of 3.83%, reaching Rs 2,113, following the company’s disclosure of a data breach involving unauthorized access to its Amazon Web Services (AWS) infrastructure.

The incident came to light after Angel One received alerts from its dark-web monitoring partner on February 27, which flagged potential unauthorized access to client data. The company promptly launched an internal investigation and confirmed that certain AWS resources had indeed been compromised, triggering immediate security measures.

To mitigate any further risks, Angel One responded quickly by changing all related credentials for its AWS cloud and associated applications. Furthermore, the company has engaged an external forensic partner to thoroughly investigate the breach, determine the extent of its impact, and pinpoint the root cause of the incident.

Client accounts remain secure

Despite the breach, Angel One assured its clients that the preliminary assessment indicated no impact on client securities, funds, or credentials. The company has confirmed that all client accounts remain secure and unaffected.

In a statement, Angel One emphasized, "Protecting the privacy and security of our clients' data is of utmost importance to us. As a precautionary measure, we have engaged an external forensic partner to conduct a full investigation into this incident. Our findings have confirmed that no securities, funds, or credentials have been compromised, and all accounts remain secure."

The company is continuing its investigation and has committed to taking all necessary actions to safeguard its clients’ interests. Angel One is also working to enhance its cybersecurity protocols to prevent similar incidents in the future.

Continued success despite setback

Angel One is known for its digital platform offerings, which include broking, advisory services, margin funding, and distribution of third-party financial products. The company has grown to become the largest retail stockbroking house in India in terms of active clients on the National Stock Exchange (NSE).

Despite this setback, Angel One remains on a growth trajectory. The company reported an 8.1% increase in consolidated net profit for the third quarter of FY25, reaching Rs 281.47 crore, compared to Rs 260.31 crore in the same period the previous year. Total income also surged by 19.13% year-on-year, amounting to Rs 1,263.80 crore for Q3 FY25.

The company’s swift actions to address the breach and its ongoing investigation reflect its commitment to ensuring the safety of its clients’ data and maintaining trust in its services.