Zerodha Kite Glitch Causes Users To Lose Lakhs of Rupees, Company Says Problem Was Due to Connectivity Issue at BSE and ‘Issue Now Resolved’

New Delhi, July 12: Several users on Friday reported losing lakhs of rupees while trading on brokerage firm Zerodha's trading platform Kite due to a glitch in the application. However, the company said the problem was due to a connectivity issue at Bombay Stock Exchange (BSE).

"Some of our users may be seeing orders in the ‘Open Pending’ state for BSE F&O orders. This issue is across brokers. We are working with BSE to update the status of these orders," Zerodha wrote in a post on X after users reported the issue. Later, the brokerage firm informed in another post that the "issue has now been resolved by the exchange". CERT-In Warns Users of Multiple Bugs in Node.js Platform Which Can Allow Attacker To Compromise Targeted System.

"Incurred a loss of over 15 lakh today due to a Zerodha glitch. Orders were pending from 10:55 A.M., and I was unable to cancel or modify them. At 11:24 A.M., all orders were executed at the previously pending price, forcing me to square them off at the current price, resulting in a loss of over 15 lakh across two accounts," a user wrote. "@zerodhaonline you guys need to pay us. Elon Musk’s X To File Lawsuit Against People Involved in Advertising ‘Boycott’ Against Platform Since Twitter Takeover in 2022.

We lost nearly 7 lakh from profit due to your glitch. Order going in the pending order. Scary panic situation. Nearly 30 lakh were at risk. We want our money back #zerodha," another user said. One more user mentioned, "Supposed to have 92K profit but could not execute because #zerodha stuck. When executed got 19K loss. @zerodhaonline give me back my money as you are solely responsible for this".

(The above story first appeared on LatestLY on Jul 12, 2024 02:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).