US-based iLearningEngines, which provides AI training software for enterprises, has alerted regulators to a cyberattack that allowed hackers to penetrate its network and steal $250,000 worth of company funds.
iLearningEngines said in an 8-K regulatory filing with the U.S. Securities and Exchange Commission on Monday that it recently experienced a “cybersecurity incident” in which an anonymous attacker gained access to the organization's network. The company announced that when the hacker gained access to its network, it “accidentally transferred a $250,000 wire transfer,” but iLearningEngines has not been able to recover that amount.
The company did not say when the incident occurred or the nature of the cyberattack. However, the company's explanation for the erroneous wire transfer suggests that the company was the victim of a business email compromise, or a BEC attack in which attackers compromised or manipulated email accounts to steal funds from companies or their employees. Suggests. BEC scams often target companies that make wire transfers or have suppliers and vendors overseas.
The hackers also deleted numerous email messages and accessed “certain files” on iLearningEngines' network, according to the filing. The company has not confirmed which files were accessed and has not yet responded to TechCrunch's questions.
iLearningEngines said it has incurred and “may continue to incur” certain costs related to the cybersecurity incident and expects it to have a material impact on its operations during the fiscal quarter ending December 31, 2024. I expect it to be given. The company announced it lost $314 million in revenue. Second quarter sales were $135 million.
The company, which calls itself an “AI-powered learning automation” company, went public in April 2024 and says it provides services to more than 1,000 corporate customers.