- Niocorp has notified the sec of a cyber attack
- He was deceived to send a payment to the wrong account
- He notified the application of the law and is trying to recover the funds
Niocorp Developments, a Canadian mineral exploration firm that operates in Nebraska, has reported that it suffered a cyber attack in which it lost half a million dollars.
The company confirmed the news through an 8 K report recently presented to the United States Stock Exchange and Securities Commission (SEC).
In the report, presented on February 14, Niocorp said that the “unauthorized third parties” to their information systems, including “portions of their email systems”. The result of this access was a “poorly directed supplier payment” for a total of approximately $ 0.5 million.
Investigating the attack
In other words, someone managed to deceive Niocorp to make a payment to the wrong bank account.
This is generally carried out in the business email commitment attacks (BEC), when cybercounts get access to an email account that belongs to a high positioning executive and uses it to deceive the Finance Department to carry out the Incorrect payment.
Niocorp says that he quickly realized what had happened, and notified both the Federal Police and certain financial institutions in an attempt to recover the money. It is not clear if it still succeeded or not. The company also said that “it began to take measures” to investigate, contain, evaluate and remedy the attack.
Although the company believes that, apart from the BEC, there were no other attacks or attempts, it is still analyzing the complete nature and the impact of the attack.
“As of this presentation, the company has not yet determined whether it is reasonably likely that the cybersecurity incident materially affects the company's general financial condition or its operations results,” the presentation concluded.
Niocorp developments aim to produce Niobio, Scandio and Titanium for industrial and green technology applications.
Through The registration
