Mortgage lender loanDepot discloses a massive data breach affecting approximately 16.6 million individuals after falling victim to a ransomware attack. The attack, which occurred on January 6, led to the shutdown of some systems to contain the breach.
Despite assuring customers that recurring automatic payments would still be processed, the incident caused disruptions, including payment history delays and unavailability of certain customer portals.
In the aftermath, loanDepot confirmed the ransomware nature of the attack, with malicious actors encrypting files on compromised devices.
While significant progress has been made in restoring loan origination and servicing systems, the company acknowledges that an unauthorized third party gained access to sensitive personal information during the breach.
Although the investigation is ongoing, loanDepot has pledged to notify affected individuals and provide free credit monitoring and identity protection services.
Reference:
