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Update on LoanDepot attack: 16.6 million customers’ data stolen - BlackFog Commentary

January 2024 by Dr Darren Williams, CEO and Founder at Blackfog

In a recent update on the LoanDepot cyberattack, it was revealed that 16.6 million LoanDepot customers had their sensitive personal information stolen. There are no details on what specific types of customer data. Customers have said they still are unable to make payments or access their online accounts since the incident, which occurred around Jan 8th.

The commentary from Dr. Darren Williams, CEO and Founder, BlackFog:

“There’s been a recent uptick in cybercriminals’ interest in the loan and mortgage industry, with a series of attacks in recent months including the attack on Mr. Cooper. Cybercriminals are discovering holes and a lack of investment in security in this industry, and many are stepping in to take advantage.

While it remains unclear whether LoanDepot received a ransom demand, the stakes are high with certain systems still offline, and millions of customers’ data stolen. LoanDepot and other companies alike must prioritize cybersecurity investments, especially those that prevent data exfiltration, so they can protect their customers and resist ransom demands with confidence.”

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