AvidXchange, a leading payment software company, has experienced its second major ransomware attack of the year. The attack was carried out by a group known as RansomHouse, who not only demanded a ransom but also published a sample of the stolen data on their website. The leaked information contains highly sensitive data, including non-disclosure agreements, employee payroll details, corporate bank account numbers, and system login credentials. The stolen data also includes answers to security questions for various accounts, such as cloud services and security software.
An analysis of the stolen information revealed that employees had been using weak and easily guessable passwords, posing a significant security risk. AvidXchange has acknowledged the breach and confirmed that it occurred in early April, impacting some of their systems. The company has stated that an ongoing investigation is being conducted to assess the extent of the attack and the potential impact on affected parties.
During a recent earnings call, AvidXchange mentioned that it anticipates incurring additional costs as a result of the attack. However, they have not disclosed whether a ransom was paid or if any specific demands were made by the attackers. The company’s spokesperson, Olivia Sorrellis, declined to comment on these details.
AvidXchange, headquartered in North Carolina, specializes in cloud-based payment solutions that streamline invoicing and payment management for businesses. With a substantial customer base and a significant volume of transactions processed annually, this ransomware attack raises concerns about data security and highlights the importance of robust cybersecurity measures in today’s digital landscape.
