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16 million customers were affected by the January incident.
Major US mortgage lender LoanDepot has revealed the financial consequences of the January cyberattack. According to the company's report, expenses related to the incident reached almost $ 27 million.
In early 2024, LoanDepot was attacked by a ransomware program, as a result of which data was encrypted and some systems were disabled. It was later revealed that the confidential information of more than 16 million customers , including names, addresses, phone numbers and even social security numbers, was at risk.
The amount of $ 26.9 million includes the costs of investigating the incident, notifying affected customers, providing personal data protection services, as well as legal costs and settling lawsuits.
LoanDepot also reported that $ 25 million of the total costs were set aside to settle a class-action lawsuit related to the cyber incident.
The case of LoanDepot is not an isolated one. Recently, electronics manufacturer Keytronic also reported losses of more than $ 17 million due to a similar cyberattack.
Source
Major US mortgage lender LoanDepot has revealed the financial consequences of the January cyberattack. According to the company's report, expenses related to the incident reached almost $ 27 million.
In early 2024, LoanDepot was attacked by a ransomware program, as a result of which data was encrypted and some systems were disabled. It was later revealed that the confidential information of more than 16 million customers , including names, addresses, phone numbers and even social security numbers, was at risk.
The amount of $ 26.9 million includes the costs of investigating the incident, notifying affected customers, providing personal data protection services, as well as legal costs and settling lawsuits.
LoanDepot also reported that $ 25 million of the total costs were set aside to settle a class-action lawsuit related to the cyber incident.
The case of LoanDepot is not an isolated one. Recently, electronics manufacturer Keytronic also reported losses of more than $ 17 million due to a similar cyberattack.
Source
