February 6, 2024 at 10:58AM
Global securities finance tech company EquiLend recently recovered from a ransomware attack, disrupting its systems for nearly two weeks. Known for its Next Generation Trading platform, EquiLend transacts $113.5 billion daily between 120+ companies across 40 markets. EquiLend restored client services but hasn’t commented on ransom payment. Data safety is assured, but cybersecurity investigation continues.
The meeting notes indicate that EquiLend, a global securities finance tech company, has successfully restored its services following a ransomware attack. The company’s extensive client-facing services are once again available, and it aims to provide high-quality service to its clients. EquiLend’s board of directors includes major Wall Street players, and its Next Generation Trading platform facilitates a significant volume of transactions within the securities lending sector. The company also offers regulatory tech, data analytics, and securities finance services.
While the cybersecurity incident was disruptive, EquiLend’s internal team and third-party experts have worked diligently to restore its systems. The company has not confirmed whether a ransom was paid, and it has stated that it has no evidence of client transaction data being accessed or exfiltrated. EquiLend’s FAQ page has been updated to reflect the system restoration, but it has not provided details on how the attackers breached its systems.
Experts initially predicted minimal disruption to EquiLend’s business due to the attack, and the company’s sale of a majority stake to a private equity firm was announced shortly before the incident. The situation serves as a reminder of the importance of cybersecurity and the potential ramifications of ransomware attacks in today’s business landscape.
If you have further questions or require specific details from the meeting notes, please feel free to ask.