TechCrunch, which broke the story, said it included personal information such as email and phone numbers of high profile users known as "influencers".

The database has been traced to a Mumbai-based company called Chtrbox.

Instagram, which is owned by Facebook, told the BBC it was trying to find out where the data had come from.

"We're looking into the issue to understand if the data described - including email and phone numbers - was from Instagram or from other sources. We're also inquiring with Chtrbox to understand where this data came from and how it became publicly available," it said in a statement.

The TechCrunch report said the data also included information such as the location of users.

The database itself was stored on an Amazon server and was not protected with a password. An Indian researcher who discovered it had alerted TechCrunch to it.

Chtrbox, which is a marketing company, has not yet responded to a BBC request for comment, although it has taken the database offline.

Gathering - or scraping - information from Instagram accounts violates the policies of the social media site.