Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home News

SEC Probe of Progress Software Data Breach

October 13, 2023
Reading Time: 2 mins read
in News

The US Securities and Exchange Commission (SEC) is launching an investigation into the cyber vulnerability associated with Progress Software’s MOVEit transfer tool, which resulted in a significant data breach impacting over 2,000 organizations and approximately 60 million individuals.

Furthermore, this vulnerability, known as CVE-2023-34362, was exploited by the Russia-linked Cl0p ransomware group as a zero-day, enabling them to access data from users of the MOVEit Transfer managed file transfer (MFT) software. Notably, around 900 of the affected organizations are US schools, indirectly impacted through third-party services provider National Student Clearinghouse, which was using the MOVEit software at the time of the breach.

Progress Software has confirmed the initiation of the SEC’s own investigation in addition to inquiries launched by data privacy regulators, attorney generals, and a US law enforcement agency. The company received a subpoena from the SEC, signifying the early stages of a fact-finding inquiry. It is important to note that this investigation does not imply that Progress Software or any other party violated federal securities laws, and it doesn’t reflect negatively on any individuals, entities, or securities involved. Progress Software expressed its intention to fully cooperate with the SEC throughout the investigation.

Moreover, the SEC filing also reveals that individuals who claim to have been affected by the MOVEit breach have filed 58 class action lawsuits against Progress Software. Additionally, 23 customers and other entities have sent letters to the company, asserting the impact of the breach and their intent to seek indemnification.

Progress Software noted that for the three and nine months ended August 31, 2023, they incurred $1.0 million in costs related to the MOVEit vulnerability, accounting for insurance recoveries. The company acknowledges that government inquiries and investigations may lead to various outcomes, including adverse judgments, settlements, fines, penalties, or other resolutions, the specifics of which remain uncertain.

Reference:
  • PROGRESS SOFTWARE CORPORATION
Tags: Cl0p GangCyber NewsCyber News 2023CybersecurityData BreachMOVEitOctober 2023RussiaUSAVulnerabilities
ADVERTISEMENT

Related Posts

US Gov Unprecedented Cut to Cyber Budget

OpenAI Boosts Security Against Chinese IP Theft

July 10, 2025
US Gov Unprecedented Cut to Cyber Budget

US Gov Unprecedented Cut to Cyber Budget

July 10, 2025
US Gov Unprecedented Cut to Cyber Budget

US Sanctions N. Korean Andariel Member

July 10, 2025
Microsoft Pakistan Operations Shut Down

Samsung boosts One UI 8 security

July 9, 2025
Microsoft Pakistan Operations Shut Down

US Gov Cracks Down Aeza Group

July 9, 2025
Microsoft Pakistan Operations Shut Down

Microsoft Pakistan Operations Shut Down

July 9, 2025

Latest Alerts

RondoDox Botnet Exploits Router Flaws

ServiceNow Data Exposure via ACLs

Hackers Revive SEO Poisoning

Windows BitLocker Vulnerability Flaw

Anatsa Android Trojan Targets 90K Users

Hackers Use Leaked Shellter License Malware

Subscribe to our newsletter

    Latest Incidents

    Bitcoin Depot Breach Exposes Data

    McDonald’s AI Hiring Bot Exposes Data

    Nippon Steel Solutions Data Breach

    Norwegian Municipalities Hit by Data Breach

    Credit Reports Breached And Sold On Dark Web

    Recruiting Software Exposed 26M Resumes

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial