Man Claims He Lost Rs 10 Lakh Due To Zerodha Glitch. Company Responds

Online brokerage firm Zerodha came under fire on social media following a post from a user about a possible developer bug which he claimed caused him a loss of Rs 10 lakh. The man said that an "implementation issue/developer bug" prevented his orders from being processed, leading to substantial financial losses.

The user, who goes by the handle 'Overtrader', wrote a long note on social media platform X (previously Twitter) explaining what went wrong.

"Reason I lost 10L because of an implementation issue/a developers bug by Zerodha not because of some technical glitch or network issue," read the post.

He shared the problem he faced while placing buy orders step by step. Here's what happened:

1. I placed market orders starting from 9.19

2. All went to my order book with OPEN status

3. Tried at least 15-20 times to cancel but couldn't cancel them

4. My available margin was changing all this while "

Then the user went on to explain "what went wrong behind Zerodha servers."

Read the entire tweet here:

A few other users too voiced their frustrations on social media regarding technical glitches affecting their buy orders. Despite Zerodha's update that the issue had been resolved, users continued to express their discontent and anger online.

A user, who uses the handle 'Rashshad Rasheed', said, "#zerodha stuck. My orders not getting executed. Will take you to court if I lose any single penny"

Another wrote, "Every #Zerodha trader ever. Lost Rs 2.1 Lakh due to technical error. Going to court, going to change broker. Next day: 9:15 am, open Zerodha and punch 0.0. In marketing 101 they teach about something called 'switching cost'. In the case of Zerodha, the switching costs are?"

What Zerodha Said

Zerodha, in a tweet, said that the issue had been resolved, and even apologised to investors for any inconvenience caused.

"Some of our users were facing issues seeing the latest status of some orders while the orders themselves were successfully placed. This issue is now fixed. The status for new orders is updating fine now. We're working on updating the status for older orders. Apologies for the inconvenience caused," tweeted Zerodha.

However, some responded that the issues had not been resolved and demanded that the brokerage firm should be held accountable for the losses incurred.

"Issue not solved yet...." wrote one user.

Another user remarked, “Who will pay for the loss??? Is Zerodha ready??”

Zerodha has faced similar issues in the past too. In June this year, the brokerage firm experienced a technical glitch related to order placement.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)