Users report losing lakhs due to glitch in Zerodha, firm says 'issue now resolved'

New Delhi: Several users on Friday reported losing lakhs of rupees while trading on brokerage firm Zerodha's trading platform Kite due to a glitch in the application.

However, the company said the problem was due to a connectivity issue at Bombay Stock Exchange (BSE).

"Some of our users may be seeing orders in the ‘Open Pending’ state for BSE F&O orders. This issue is across brokers. We are working with BSE to update the status of these orders," Zerodha wrote in a post on X after users reported the issue.

Later, the brokerage firm informed in another post that the "issue has now been resolved by the exchange".

"Incurred a loss of over 15 lakh today due to a Zerodha glitch. Orders were pending from 10:55 A.M., and I was unable to cancel or modify them. At 11:24 A.M., all orders were executed at the previously pending price, forcing me to square them off at the current price, resulting in a loss of over 15 lakh across two accounts," a user wrote.

"@zerodhaonline you guys need to pay us. We lost nearly 7 lakh from profit due to your glitch. Order going in the pending order. Scary panic situation. Nearly 30 lakh were at risk. We want our money back #zerodha," another user said.

One more user mentioned, "Supposed to have 92K profit but could not execute because #zerodha stuck. When executed got 19K loss. @zerodhaonline give me back my money as you are solely responsible for this".