Zerodha, a prominent brokerage firm, issued a public apology on Monday following a technical glitch that disrupted user logins on its platform. The company explained that the issue arose due to a recent update to its IP database over the weekend, resulting in changes to the recorded locations of many users.
In a post on X, Zerodha stated, “Here’s a preliminary update on today’s issue with login. This was due to a recent update to our IP database over the weekend, which resulted in changes to the recorded locations of many users. This update triggered emails to users that they were logging in from a new location/IP, which may have prompted a lot of users to reset their passwords all at once putting a strain on our login systems. We’ve put in measures to prevent similar issues. Please create a ticket if you were affected by today’s issue, and our team will reach out to you. We sincerely apologize for the inconvenience caused.”
The technical glitch occurred on a day when Indian stock markets experienced a remarkable rally, reaching record levels. Nifty 50 and Sensex achieved all-time highs, with Nifty 50 rallying to 20,702.65 and Sensex hovering around 68,918.22 during the first session. Both indices recorded substantial gains, closing with Nifty 50 up 419 points at 20,686.80 and Sensex up 1,384 points at 68,865.12.
Amidst the significant movements in the stock market, Zerodha users faced challenges logging into the Kite web platform. Users reported issues on social media platforms, prompting Zerodha to respond and recommend logging into the Kite mobile app while they addressed the problem.
Zerodha assured users that measures had been implemented to prevent similar issues in the future. The company encouraged affected users to create a ticket, ensuring that their team would reach out to address any concerns. The public apology reflects the company’s commitment to addressing technical issues promptly and maintaining a seamless user experience.
