Mumbai woman arrested for hacking demat account, selling shares worth ₹4.58 crore - The Hindu

The accused allegedly used the complainant's personal information obtained during business discussions to hack into her Demat account on August 10, 2026, between 11 a.m. and 5 p.m. According to police, shares worth ₹4,58,34,579 were sold from the account, following which penny stocks worth ₹1,71,60,032 were purchased without consent.

These unauthorized transactions resulted in a financial loss of ₹2,86,74,547 to the victim. The case was registered at the South Region Cyber Police Station, Mumbai, on August 26 after the victim filed a complaint.

Investigation details

During the investigation, police discovered that the one-time passwords (OTPs) required to access the Demat account were received at the complainant's registered email address. The investigation revealed that the accused had obtained access to the victim's email account and mobile phone through a malicious link sent to her device.

Previous criminal history

The accused was arrested on November 3. Police revealed she had previously been arrested in four other cases registered at Santacruz, Azad Maidan and Andheri police stations under provisions relating to cheating, impersonation and offences under the Information Technology Act.

Police warning

Mumbai Police have urged citizens not to conduct stock market transactions through links or applications received from unknown numbers and warned against sharing Demat account passwords, OTPs and email credentials. Victims of cyber fraud have been advised to contact the national cybercrime helpline at 1930 or register complaints at www.cybercrime.gov.in.