Benevolent Bandits: How Hackers Turned SEC Informants and Shook the Fintech World
In a plot twist worthy of a sitcom, hacking group ALPHV / BlackCat breached fintech firm MeridianLink and then played whistleblower, reporting the incident to the SEC. Leveraging a rule that mandates “material cybersecurity incidents” be reported within four days, they’ve turned “Hackers Exploit SEC Reporting Rule” into a punchline rather than a headline.
Hot Take:
Who knew hackers had such a strong sense of civic duty? Taking the phrase 'crime doesn't pay' to a whole new level, our digital bandits from ALPHV / BlackCat have shown more concern for financial regulations than the financial software company they hacked, MeridianLink. Instead of just encrypting the data and demanding a ransom, they filed a report with the SEC, citing a rule that requires victims of "material cybersecurity incidents" to report within four business days. Maybe it's time we started handing out 'Hacker of the Year' awards for such innovative approaches to cybercrime!Already a member? Log in here