Ubiquiti Networks victim of $39 million social engineering attack

Ubiquiti Networks Inc. announced in its fourth quarter fiscal results that it was the victim of an email business fraud incident resulting in the loss of $39.1 million dollars. It appears a member of staff in one of its subsidiary companies based in Hong Kong fell victim to what is known as a CEO scam or a Business Email Compromise (BEC) attack The FBI issued a warning to businesses to be aware of these attacks in January of this year.”]

Source: https://www.csoonline.com/article/2961066/ubiquiti-networks-victim-of-39-million-social-engineering-attack.html