Maryland AI Firm’s $250K Oopsie: When Emails Go Rogue
iLearningEngines fell victim to a business email compromise scam, losing $250,000 to a cybercriminal. Despite their cybersecurity response, the funds remain missing. With ongoing legal battles and a stock plunge, the company’s woes continue to mount. Business email compromise proves costly, as U.S. losses hit $2.9 billion last year.
Hot Take:
Who knew education could be so expensive? For iLearningEngines, a $250,000 lesson in cybersecurity doesn’t come cheap, but hey, at least they’re now top of the class in Business Email Compromise (BEC) 101!
Key Points:
- A Maryland-based AI company was duped out of $250,000 via a BEC scheme.
- The cybercriminal accessed the company’s systems, rerouted a payment, and erased emails.
- iLearningEngines has engaged forensic experts but has not recovered the funds.
- BEC scams are on the rise, with $2.9 billion in losses reported in the US last year.
- The company faces additional legal and financial challenges beyond the cyber incident.
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