Ubiquiti Networks Hit with BEC or CEO Scam Social Engineering Attach Loses $39.1M

[mlnews]

MangoLassi community darling Ubiquiti Networks was the victim of a CEO Scam social engineering attack that, according to public SEC filings, cost the company $39.1 million in damages. Damages was purely to financial resources and has no impact to customers or products.

[coliver]

@mlnews said:

MangoLassi community darling Ubiquiti Networks was the victim of a CEO Scam social engineering attack that, according to public SEC filings, cost the company $39.1 million in damages. Damages was purely to financial resources and has no impact to customers or products.

Holy crap... is that kind of thing insured against?

[scottalanmiller]

@coliver said:

Holy crap... is that kind of thing insured against?

Not likely (and not in this case since they had to write down the losses.) How do you insure against giving money to someone?