BoAt, India's largest audio and wearables brand, is investigating a possible data breach after hackers advertised a cache of suspected customer data online.
Samples of customer data including names, phone numbers, email addresses, postal addresses and order numbers were uploaded to known cybercrime forums. Some of the data reviewed by TechCrunch appears to be genuine, based on verification of exposed phone numbers.
The hacker said the hacking incident occurred in March and resulted in the data of more than 7.5 million customers being compromised.
BoAt said in a statement emailed to TechCrunch that it was investigating the issue, but did not disclose any specifics.
“BoAt is aware of recent allegations of a possible data breach involving customer information. We take these claims seriously and immediately began a comprehensive 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 hackers claimed to have obtained data using stolen credentials from BoAt systems.
BoAt, which counts Warburg Pincus and South Lake Investment among its major investors, leads the Indian wireless earbuds market with nearly 34% share, according to data provided by IDC. Boart also holds an unrivaled position in the Indian wearable market, boasting a market share of approximately 26%.
BoAt, which was valued at $300 million in a Series B round of $100 million in 2022, has filed for an IPO to raise up to $266 million. However, the brand later postponed its plans for a public listing after seeing a slowdown in public markets.