Outlook Business Desk
Google has alerted that executives and IT teams at major organisations face extortion risk after hackers claimed to have accessed sensitive data from Oracle’s widely used E-Business Suite. Ransom demands reportedly reach up to $50 million.
The Cl0p ransomware group, infamous for high-profile cyberattacks, initiated a campaign in late September, targeting Oracle’s E-Business Suite, with cybersecurity firms reporting ransom demands that could reach as high as $50 million.
Cl0p hackers claim to have breached Oracle’s E-Business Suite, which manages finance, supply chains, and customer data. At least one company confirmed system compromise, while several others received screenshots and file listings as proof of intrusion.
Halcyon, the cybersecurity firm handling these incidents, reported that ransom demands have escalated into seven- and eight-figure sums. The scale highlights the severity of Cl0p’s campaign and the growing financial risks to affected organisations.
Google’s Threat Intelligence Group reported that Cl0p hackers circulated extortion emails on or before 29 September. Hundreds of hijacked third-party accounts were used, with attackers claiming to have stolen corporate data and linking contacts to known Cl0p affiliates.
Halcyon revealed that Cl0p hackers might have taken advantage of Oracle’s default password-reset process on public-facing portals. Security experts say a possible software flaw may have been exploited, exposing vulnerabilities in Oracle’s widely used enterprise systems.
Victims reported that Cl0p’s ransom notes contained numerous spelling and grammar mistakes, typical of the group’s past attacks. Contact details matched those on the dark web leak site, though it is unclear if any organisations have paid the ransom.
On the other hand, Oracle has not commented on the alleged breaches. The incidents add to Cl0p’s growing list of attacks, including the 2023 MOVEit file-transfer software exploit, which targeted hundreds of firms like Shell, British Airways parent IAG, and the BBC, as reported by Mint.