Stockal Users Report Unauthorized US Stock Sales Worth Millions

4 Nov 2026, 5:18 pm · 15h ago · 1 min read · YourStory

Nearly 30 Indian retail investors using global trading platform Stockal Securities have reported unauthorized access to their accounts, alleging their US blue-chip shares were sold and replaced with micro-cap stock Zhibao Technology. The purchased stock quickly plummeted nearly 60%, resulting in heavy financial losses for users. Stockal attributed the security breach to credential-harvesting phishing attacks impacting 26 accounts. However, its US brokerage partner DriveWealth disputed the claim, citing internal security vulnerabilities at Stockal. Affected investors have filed formal complaints with SEBI, the US SEC, and Bengaluru police to investigate the potential pump-and-dump scheme.