Sky Gold unit hit by deepfake fraud, loses about Rs 10.70 crore in unauthorised transfers
AI Market Summary
Sky Gold disclosed a deepfake-enabled fraud at its subsidiary that led to ~Rs 10.70 crore in unauthorised transfers after employee devices were compromised and a director was impersonated. While the firm says core IT systems and data were not breached and recovery efforts are underway, the event elevates operational and governance risk perceptions, weighing on confidence; shares fell ~3% on the day.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT-0.94%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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Sky Gold subsidiary Starmangalsutra Private Limited lost about 10.70 million rupees after employees’ devices were hijacked and used to deliver director-impersonation instructions for unauthorised transfers. The incident was discovered on July 15, 2026, and the company said it has filed a complaint and is working with banks to trace and recover the funds. Sky Gold said its core IT systems were not breached, but the operational risk event weighed on confidence in governance and financial controls. The stock fell 3% to 603 rupees.
