Star Health Insurance stock falls 2.5% after massive data breach

Star Health stock has fallen over 9 percent in the past month.

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Shares of Star Health & Allied Insurance Company dropped 2.5 percent on October 10, a day after the company announced that it had fallen victim to a targeted cyberattack which resulted in the data breach of over 3.1 crore customers.

At 09.31 am, shares of Star Health were trading at Rs 263.90 on the NSE.

Meanwhile, the hacker, identified as xenZen, who put the data up for sale on his website claimed that Star Health's chief information security officer, Amarjeet Khanuja, sold the data and later attempted to renegotiate the deal, demanding more money for backdoor access on behalf of senior management.

Addressing these claims, Star Health stated that their CISO has been duly co-operating in the investigation and we have not arrived at any finding of wrongdoing by him till date, according to a report from the Economic Times. "We request that his privacy be respected as we know that the threat actor is trying to create panic. We also want to emphasise that any unauthorised acquisition, possession, or dissemination of customer data is illegal,” the report stated quoting Star Health.

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This comes just a month after Star Health filed a lawsuit against social media platform Telegram and an unidentified hacker, after a Reuters report revealed that the hacker was using chatbots on the app to leak personal data and medical records of policyholders.

The breach exposed sensitive details from over five million insurance claims, including Aadhaar and PAN card photos, medical reports, and insurance claim information, which are now publicly accessible on Telegram.

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