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HomeFinance
FinanceNewsletter FeedTechnology

LoanDepot Hacked by Notorious Gang: Report

Had sought millions for ransomware

Peter J. Brennan
By Peter J. Brennan
February 22, 2024
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    Irvine-based loanDepot Inc., one of the nation’s largest mortgage originators, was hacked by a notorious gang called ALPHV/BlackCat, according to The Register, a tech-oriented website.

    LoanDepot was negotiating a $6 million payout, perhaps as a stalling tactic, The Register said, citing the gang’s own website.

    In one notorious incident, the gang in November filed a complaint with the SEC against Costa Mesa-based MeridianLink for failing to notify the regulator of an alleged material breach.

    LoanDepot did disclose the breach to the SEC on Jan. 6, saying some personal information on 16.6 million people went to an unauthorized third party.

    The ransomware gang has also attacked Prudential Financial and Canada’s Trans-Northern Pipelines, the Register said.

    Santa Ana-based First American Financial shut down its systems after a security breach in December.

    The U.S. government is offering a $15 million reward for information leading to the capture of the gang members.

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      Peter J. Brennan
      Peter J. Brennan
      With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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