Shares of jewellery manufacturer Sky Gold faced downward pressure following the disclosure of a major cybersecurity breach. A subsidiary reported a staggering loss of Rs 10.70 crore linked to an unauthorized fund transfer executed by bad actors.
The perpetrators reportedly employed advanced deepfake techniques to impersonate a company director during a digital communication, effectively bypassing standard verification protocols to orchestrate the fraudulent transaction.
Company officials confirmed that the incident was uncovered on July 15, 2026. While the financial impact is significant, the firm stated that its core IT infrastructure remains secure, with no evidence of broader data corruption or system-wide compromise.
Authorities have been notified, and the subsidiary is currently collaborating with banking institutions to trace the illicit funds. The case highlights the rising threat of AI-driven social engineering facing modern corporate governance.
