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Investors lose over a Rs100 crores in Stockal Securities…

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activeCyber Crime / Digital ArrestPan India

Investors lose over a Rs100 crores in Stockal Securities scam: Dozens of retail investors report...

Nearly 30 retail investors have allegedly lost more than Rs 100 crore in a financial fraud linked to the Bengaluru-headquartered fintech platform Stockal Securities. According to reports, the victims discovered that their investment accounts had been accessed without authorisation, leading to the rapid liquidation of their US blue-chip stock portfolios. The entire proceeds from these sales were allegedly used to buy shares of a single thinly traded Chinese stock, which subsequently crashed in value.

State

Multiple States

First reported

November 2026

Agencies involved

Sebi, US SEC, Bengaluru Police

Entities named in FIR

DriveWealth LLC, Stockal Securities, Borderless Softech Private Limited, Borderless Investing Inc.

Status

Under investigation by authorities and companies

The full story

Everything you need to know about this case, in one place.

The affected investors stated they received no routine trade alerts or individual confirmations for the mass sales and subsequent purchases, which occurred in October 2026. Stockal suggested that the incident may have stemmed from compromised email credentials via social engineering or phishing, maintaining that its platform was not breached. Meanwhile, clearing broker DriveWealth and Stockal have traded blame regarding platform security, accountability, and the handling of the frozen accounts.

Victims have pursued multiple avenues for relief, including lodging a formal police First Information Report (FIR) in Bengaluru, filing complaints with the Securities and Exchange Board of India (Sebi), and reaching out to the US Securities and Exchange Commission (SEC). Authorities and regulators continue to investigate the breach, while affected investors report that their portfolios have not yet been restored or reimbursed.

Not yet reported: The reports do not specify the exact final total of losses across all victims or any formal court judgments resulting from the FIR.

Where the case stands

The latest position in the reports we read.

The case is currently under investigation by regulatory bodies and law enforcement in Bengaluru. Affected investor accounts have been frozen, but the portfolios have not been restored and losses remain uncompensated.

Who was affected

Described in general terms; we do not name victims.

Nearly 30 retail investors in India, including senior corporate professionals, who utilized the Stockal platform to invest in US equities.

Timeline

Key dates as reported, oldest first.

2019HDFC Securities partnered with Stockal to launch globalinvesting.in.

July 2024The operational global investing partnership between HDFC Securities and Stockal ended.

October 15, 2026Unauthorized third-party access and mass liquidation of US stock holdings occurred on the Stockal platform.

October 18, 2026Borderless contacted an affected investor, acknowledging suspicious account activity and restrictions by DriveWealth.

October 30, 2026DriveWealth wrote to an affected investor stating that platform security lapses were owned by Stockal.

November 4, 2026HDFC Securities issued a statement clarifying that it was not named among the accused in the FIR.

How the scam worked

The method described in the reports.

Victims' email accounts and login credentials were allegedly compromised through social engineering or phishing.
Unknown individuals gained unauthorized access to retail investor accounts on the Stockal platform.
The intruders rapidly liquidated large holdings of US blue-chip stocks within minutes without sending routine alerts or individual confirmations.
The entire proceeds from the stock sales were immediately redirected into a single large order of a thinly traded Chinese stock.
The newly purchased stock sharply declined in value over subsequent days, locking in heavy portfolio losses for the investors.

Targeted by something similar?

Call 1930 (free, 24x7) straight away, then file at cybercrime.gov.in. Money reported in the first hours is far easier to freeze.

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Sources and further reading

Optional. The full story is above; these are the original reports it was prepared from.

moneycontrol.comOriginal report Moneycontrol.comOpens via Google News

Prepared by Report Scams, with the help of AI, from the published reports listed above. Check those reports for the latest. Cases here describe allegations. An FIR, arrest or charge is not a finding of guilt. To report a mistake, or to ask for a correction or removal, write to our Grievance Officer. See also the Safe Posting policy.