Last week saw a kerfuffle of unparalleled proportions in the Indian startup ecosystem. On one hand, there were claims that India had experienced its largest data breach. Records and private information of a mind-boggling 100 million users leaked from a fintech startup. On the other hand, MobiKwik*, the company in question, denied that any such breach ever happened.

MobiKwik co-founder and CEO Bipin Preet Singh claimed that the data was likely to have been lost by users on other platforms. The company even went as far as to paint the researcher who flagged the issue, Rajshekhar Rajaharia, as “media-crazed” and having ulterior motives.