Ransomware group reports victim it breached to SEC regulators
Posted: Sat Nov 18, 2023 1:36 am
Another fun story from this week:
One of the world’s most active ransomware groups has taken an unusual—if not unprecedented—tactic to pressure one of its victims to pay up: reporting the victim to the US Securities and Exchange Commission.
The pressure tactic came to light in a post published on Wednesday on the dark web site run by AlphV, a ransomware crime syndicate that’s been in operation for two years. After first claiming to have breached the network of the publicly traded digital lending company MeridianLink, AlphV officials posted a screenshot of a complaint it said it filed with the SEC through the agency’s website. Under a recently adopted rule that goes into effect next month, publicly traded companies must file an SEC disclosure within four days of learning of a security incident that had a “material” impact on their business.
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Ransomware group reports victim it breached to SEC regulators
One of the world’s most active ransomware groups has taken an unusual—if not unprecedented—tactic to pressure one of its victims to pay up: reporting the victim to the US Securities and Exchange Commission.
The pressure tactic came to light in a post published on Wednesday on the dark web site run by AlphV, a ransomware crime syndicate that’s been in operation for two years. After first claiming to have breached the network of the publicly traded digital lending company MeridianLink, AlphV officials posted a screenshot of a complaint it said it filed with the SEC through the agency’s website. Under a recently adopted rule that goes into effect next month, publicly traded companies must file an SEC disclosure within four days of learning of a security incident that had a “material” impact on their business.
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Ransomware group reports victim it breached to SEC regulators