Tech

Indian audio giant BoAt says it’s investigating suspected customer data breach

BoAt, India’s largest audio and wearable brand, is investigating a possible data breach after hackers announced a cache of alleged customer data online.

A sample of suspected customer data was uploaded to a known cybercrime forum, which includes full names, phone numbers, email addresses, postal addresses and order numbers. Some of the data reviewed by TechCrunch appears authentic based on checks against exposed phone numbers.

The hacker said the breach occurred in March, which led to the data of more than 7.5 million customers being compromised.

In an emailed statement to TechCrunch, BoAt said it was investigating the matter but did not release details.

“BoAt is aware of recent allegations regarding a potential data leak involving customer information. We take these allegations seriously and immediately launched a thorough investigation. At BoAt, protecting customer data is our top priority,” the company said.

The leaked data includes references to Shopify. Indian media outlet Athenil reported that the suspected hackers claimed the data was obtained using stolen credentials from BoAt’s systems.

BoAt, which counts Warburg Pincus and South Lake Investment among its major investors, leads the wireless earphone market in India with nearly 34% market share, according to data provided by IDC. BoAt also dominates the Indian wearables market, with around 26% market share.

In 2022, BoAt, which was valued at $300 million during its $100 million Series B round in 2021, filed for an IPO to raise up to $266 million. However, the brand later postponed its plans to list on the stock exchange, after noticing a slowdown in the public market.

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