Digital Gold Not As Safe As You Think: Here's What to Do Immediately If It Gets Hacked

In an age where digital security threats are growing rapidly, even something once considered highly secure—digital gold—is no longer invulnerable. Recent events have proven that cybercriminals can exploit vulnerabilities in fintech systems to steal even your gold savings. If you think storing gold digitally keeps it completely safe from theft, think again.

On June 9, 2025, a massive cyberattack hit Aditya Birla Capital Digital (ABCD), where over ₹1.95 crore worth of digital gold was stolen from 435 user accounts. Though the company acted swiftly to restore affected users’ assets and secure its systems, the incident has raised a red flag for all investors relying on digital platforms.

Let’s explore how you can protect your digital gold, what to do in case of a security breach, and how to stay vigilant.

🔐 Is Digital Gold Really Safe?

Digital gold has long been considered a safer alternative to physical gold because it eliminates the risk of theft from homes or lockers. However, cyber fraud presents a new kind of danger. The ABCD hack showed how attackers can bypass systems, including mandatory OTP verification, using sophisticated tools and techniques.

So what can you do to secure your digital gold investments?

✅ Top Security Measures to Protect Your Digital Gold

1. Use a Strong and Unique Password

• Choose a password that includes a mix of letters (upper and lower case), numbers, and symbols.

• Avoid using the same password across multiple platforms.

• Consider using a trusted password manager to store and manage strong credentials.

2. Enable Two-Factor Authentication (2FA)

Always turn on two-factor authentication (via OTP, biometric, or app-based verification) for your digital gold account. This adds an extra layer of security even if your password is compromised.

3. Choose Only Authorized and Reputable Platforms

Stick to SEBI-regulated or government-authorized platforms like:

• MMTC-PAMP

• Augmont Gold

• Verified fintech apps with transparent cybersecurity and insurance policies

Check if the platform has data breach insurance and robust cyber protection measures.

⚠️ Don’t Fall for Phishing Scams

Phishing attacks are one of the easiest ways hackers can gain access to your digital gold accounts. Avoid:

• Clicking on suspicious links from unknown emails, SMS, or WhatsApp messages

• Logging in through unofficial or third-party links

• Sharing account credentials over insecure channels

Always access your account through the official website or app only.

📊 Monitor Your Account Regularly

• Frequently check your transaction history

• If you notice any unauthorized activity, immediately:

  • Contact the platform’s customer support

  • Request to freeze your account until the issue is resolved

Early detection can prevent major financial loss.

🛡️ Device Safety Tips

• Avoid using public Wi-Fi networks, which are easy targets for hackers

• Make sure your smartphone or computer is updated with the latest software

• Use anti-virus and anti-malware tools to protect against spyware and keyloggers

• Conduct transactions only on secure and encrypted devices

🕵️‍♂️ How the ABCD Cyberattack Happened

According to NDTV Profit and the Free Press Journal, hackers exploited a vulnerability in ABCD’s Application Programming Interface (API) and server configurations. Shockingly, the attackers managed to bypass the OTP system, transferring digital gold without user authorization.

Once users reported unauthorized transactions, ABCD quickly:

• Paused digital gold trading

• Restored lost gold to affected accounts

• Patched the technical loopholes in its backend infrastructure

While the quick response was commendable, the breach has left investors shaken—and reminded us all of the need for constant vigilance.

💡 Final Takeaways: What Should You Do If Your Digital Gold is Hacked?

1. Immediately report the issue to your provider

2. Freeze your account if possible

3. Change your login credentials

4. Monitor account activity for further irregularities

5. Enable all available security features

6. File a complaint with the Cyber Crime Cell, if needed

🔚 Conclusion

Digital gold offers convenience, liquidity, and paperless transactions—but it’s not immune to cyber threats. With increasing cyberattacks on financial platforms, users must take proactive steps to secure their investments.

Stay informed. Stay protected. Because in the digital world, your gold is only as safe as your cybersecurity.