Brokerage firm Zerodha’s trading app Kite faced a glitch on Monday with several users complaining that they were not able to see their holdings, trades and other details on their accounts.
Users took to social media to voice concerns. While some faced errors executing orders, some were not able to connect. Meanwhile, some users also complained of financial losses caused due to the glitch.
After outrage from users, Zerodha said that it was due to a connectivity issue. In a post on X, formerly known as Twitter, Zerodha wrote, "Due to a connectivity issue, some of our users were intermittently facing issues with order placement on Kite. This issue is now resolved. We regret the inconvenience caused."
Zerodha's Previous Technical Glitches
In December 2023, Zerodha users were unable to log in to Kite as they faced two different issues with login and market watch. The login issues occurred because of an exponentially larger number of customer password reset requests due to an increase in geo-location accuracy of IP/geo-location database.
Zerodha co-founder, Nikhil Kamath, had then said that about 10% of active users faced disruptions intermittently for about 30 minutes. The company faced a similar technical glitch on November 6, 2023, as well. The issue was due to an unscheduled update in the anti-malware monitoring service from the EMS vendor.
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