Ransomware gang files SEC complaint over victim’s undisclosed breach::The ALPHV/BlackCat ransomware operation has taken extortion to a new level by filing a U.S. Securities and Exchange Commission complaint against one of their alleged victims for not complying with the four-day rule to disclose a cyberattack.
The symmetry is enough to bring a tear to your eye.
Hahahaha! Brilliant
The victim company is MeridianLink according to the article.
Let’s say they pay up but don’t announce it on time, but do announce it late.
I don’t imagine the hackers would out them then or it’d make that extortion harder in the future.
What kind of penalty are we talking for them failing to disclose on time, but not being outed and doing it voluntarily vs being outed?
What the hackers do is irrelevant. What matters is that they disclose it to the public so that those affected can take necessary actions. Failure to do so deserve a hefty punishment irrespective of whether or not they pay the hacker
It’s not about if they pay the hackers, it’s what’s the punishment for being late to disclose vs being exposed you didn’t disclose on time.
I imagine the punishment is worse if you’re outed vs late but voluntary?
In US? I doubt that the punishment is more than a slap on the wrist.
pwnd
I dont know who you are. I don’t know what you want. If you’re looking for ransom, I can tell you I don’t have money. But what I do have is a very particular set of skills, skills I have acquired over a very long career…
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Discovery has to occur to have that info floating around.
The ransom gang is not going to show up in court of comply with any cour orders. They are just filing this as part of a pressure campaign on their victims. “Pay us quickly and no one will ever know. Don’t, and we will make this very public and get you fined by the government too.”
Frankly, I applaud the move. It might actually make companies comply with the SEC mandates just to eliminate this part of the ransomware threat. I think it undermines ransomware groups negotiating positions, but I’m glad to let them make mistakes.
