Zerodha's Nithin Kamath issues apology; addresses root causes for technical glitches
Nithin Kamath, Founder and CEO, Zerodha, clarified in a blog post, saying the issues on November 6 and December 4 were caused by edge cases with external dependencies.
Stockbroking platform, released an apology statement clarifying the reasons behind the technical glitches that prevented users from logging into the Kite web platform.
Recently, numerous users reported issues on the mobile app and Zerodha Coin, expressing discontent and frustration on X (formerly Twitter). Despite resolving the issue within an hour, some users continued to experience problems, marking the platform's second technical challenge in a month.
Nithin Kamath, Founder and CEO, Zerodha, clarified in a blog post, saying the issues on November 6 and December 4 were caused by edge cases with external dependencies. The blog post explained, "As a broker, we have numerous external dependencies, including exchanges, depositories, physical and cloud data centres, leased lines for connectivity, our EMS vendor, and Cloudflare for SSL."
"The Nov 6th issue was due to an unscheduled update in the anti-malware monitoring service from our EMS vendor, which started throttling our servers," he continued.
Moreover, it has been asserted that these instances of malware have impacted between 5 and 20% of the platform's active customers in the last two months.
The login issues on December 4 were caused by an increase in customer password reset requests, and the system that notifies users of logins from new locations sent out an unexpectedly large number of alerts on Monday morning. "We discovered that this was the result of an increase in the geo-location accuracy of the IP/geo-location database that we use," the blog post read.
The company acknowledged that a routine database update over the weekend resulted in a spike in password reset requests from confused users, causing strain on the login system and login failures. A detailed Root Cause Analysis (RCA) will be shared soon, Kamath said.
The company has implemented fixes to prevent future issues from impacting the platform. "While we continuously put a lot of effort into ensuring all types of scenarios are factored in proactively, it is impossible for any technology platform to cover all edge cases," it says.
Edited by Suman Singh