Oracle Corporation (NYSE:ORCL) has alerted its E-Business Suite customers about a series of extortion emails after a major hacking campaign.
Clients Alerted To Upgrade Software After Cl0p Attacks
Oracle, in a blog post, acknowledged the receipt of extortion emails by its E-Business Suite customers. The company urged its clients to update their products, as the hackers may have exploited known software vulnerabilities. However, Oracle did not provide further details or disclose the number of affected clients.
Notably, Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) had previously warned about this issue on Wednesday, as reported by Reuters. Google also described the hacking campaign as “high volume.”
Check the current price of ORCL stock here
The ransomware group cl0p, tied by Google to the extortion campaign, told the publication that Oracle had “bugged up,” while noting, “We (are) not prepared to discuss details at this time.”
The group, believed to be Russia-linked or Russian-speaking, operates as a ransomware-as-a-service group, renting out its software and infrastructure to other cybercriminals for a share of the proceeds.
Cynthia Kaiser, the head of cybersecurity firm Halcyon’s Ransomware Research Center, told Reuters that ransom demands have ranged from millions to tens of millions of dollars, with the highest demand reaching $50 million.
Google, TransUnion Previously Hit By Major Cyberattacks
The cyberattack on Oracle’s E-Business Suite customers is the latest in a series of high-profile hacking incidents affecting major corporations. In August, Google confirmed a data breach that affected some of its customers, attributed to a hacking group known as ShinyHunters.
This breach occurred in one of Google’s Salesforce database systems, which stores contact information and related notes for small and medium-sized businesses.
Additionally, in the same month, TransUnion confirmed a cyberattack that compromised the personal data of 4.4 million U.S. consumers. The attack was attributed to a third-party application serving TransUnion’s U.S. consumer support operations.
Oracle Names Co-CEOs, Exec Shifts, Insider Sale
In September, Oracle named Clay Magouyrk and Mike Sicilia as co-CEOs, while longtime CEO Safra Catz becomes executive vice chair of the board. Mark Hura was promoted to president of global field operations and Doug Kehring to principal financial officer. The company also reaffirmed its recent earnings guidance.
Meanwhile, earlier this week, Naomi O. Seligman, a Director at Oracle executed a notable insider sale, according to a recent SEC filing. A Form 4 filed with the SEC revealed that Seligman sold 2,222 Oracle shares, valued at a total of $641,958.
Benzinga's Edge Rankings place Oracle in the 92nd percentile for momentum and the 70th percentile for growth, reflecting its strong performance in both areas. Check the detailed report here.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
