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Whistleblower: Ubiquiti Breach “Catastrophic”

Posted on March 31, 2021 by Dissent

Brian Krebs reports:

On Jan. 11, Ubiquiti Inc. [NYSE:UI] — a major vendor of cloud-enabled Internet of Things (IoT) devices such as routers, network video recorders and security cameras — disclosed that a breach involving a third-party cloud provider had exposed customer account credentials. Now a source who participated in the response to that breach alleges Ubiquiti massively downplayed a “catastrophic” incident to minimize the hit to its stock price, and that the third-party cloud provider claim was a fabrication.

Read more on KrebsonSecurity.com.

Update of March 31, 2022: It appears that the “whistleblower” in Krebs’ report was actually the employee who was responsible for the incident and extortion attempt. In March 2022, Ubiquiti filed a defamation lawsuit against Krebs.

Category: Business SectorCommentaries and AnalysesOf NoteU.S.

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