Hackers extorting fintech unicorn Tipalti, threaten to leak data of clients Roblox and Twitch
Hackers extorting fintech unicorn Tipalti, threaten to leak data of clients Roblox and Twitch
According to hacker group ALPHV, it clandestinely accessed the Israeli company's computers on September 8th and has retrieved over 265GB of “confidential business data belonging to the company, as well as its employees and clients”
Hacker group ALPHV is claiming to possess extensive amounts of data from Israeli fintech unicorn Tipalti, which specializes in developing automation solutions for payments. The group is threatening to leak confidential information from several clients of the Israeli company, including Roblox and Amazon's gaming service Twitch.
According to the group, it clandestinely accessed the Israeli company's computers on September 8th 2023, and has retrieved over 265GB of “confidential business data belonging to the company, as well as its employees and clients.”
"We are aware of this claim and are currently investigating it. We take the security of our customers' information very seriously. At this moment, we have not detected any loss of information or hacking into our systems," Tipalti told Calcalist.
ALPHV said it planned to publish about the hack “just before the market opens, to maximize the impact to the $RBLX stock price.”
“Outing victims before they even get a chance to respond is a bad business practice, but given that Tipalti’s insurance policy does not cover cyber extortion and considering the behavior of the executive team in general, observed through internal communications, we believe the likelihood of them reaching out on our terms is unlikely, regardless of the sensitivity of data in question,” the hackers wrote.
Tipalti announced in May that it had raised $150 million in credit financing from JPMorgan Chase Bank and Hercules Capital. Tipalti raised a $270 million Series F in 2021 at a valuation of $8.3 billion that brought the company's total funding to over $550 million.
Tipalti provides services to companies across the entire financial operations cycle: onboarding and managing global suppliers, instituting procurement controls, streamlining invoice processing and approvals, executing payments around the world and reconciling payables data across a multi-subsidiary finance organization. Companies can pay thousands of partners and suppliers in 196 countries through Tipalti. Thousands of companies, such as Amazon Twitch, GoDaddy, Roku, WordPress.com, and ZipRecruiter use Tipalti to reduce operational workload and accelerate the financial close.
Investors in Tipalti include G Squared, Marshall Wace, Counterpoint Global (Morgan Stanley), Zeev Ventures, Durable Capital Partners, 01 Advisors, and others.
