"Ransomware Attack Cost LoanDepot $27 Million"

Mortgage lender LoanDepot recently reported that the costs associated with a ransomware attack that occured in January 2024, have reached nearly $27 million.  The company noted that the amount includes "costs to investigate and remediate the cybersecurity incident, the costs of customer notifications and identity protection, professional fees including legal expenses, litigation settlement costs, and commission guarantees." The Alphv/BlackCat ransomware group took credit for the attack.  During the quarter ending June 30, 2024, LoanDepot noted an accrual of $25 million in class action litigation related to the Cybersecurity Incident.

SecurityWeek reports: "Ransomware Attack Cost LoanDepot $27 Million"