Find out why MyBudget was targeted by hackers

The popular budget platform – has come under fire!! By hackers.

MyBudget, based in Adelaide has reportedly helped 110,000 Australians with personal saving, money management and reducing debt. But now some customers are angry.

Last week, thousands of customers were left in the dark after the platform was offline and services were interrupted for up to two weeks.

The cause of the interruption has been revealed as the work of the notorious ‘Mespinoza cybercriminal group’ who have listed MyBudget on their website (located on the dark web). Security experts believe this is the first move in an attempt to extort the company.

How did they get into MyBudget?

According to MyBudget, hackers most likely gained access to their systems while they were making rapid network changes to have staff work remotely due to Covid-19.

There has been no official statement indicating any personal data has been released. However, it’s common for hackers to blackmail companies into paying them cash to prevent the release of personal data obtained through the hack.

MyBudget has released a statement about the matter.

MyBudget stated, “As a result of investigations undertaken so far, MyBudget can confirm that a malware incident occurred which interrupted a number of our automated systems”.

MyBudget provided further insight concerning customers security and the current investigation into this matter. MyBudget stated “We can assure you that clients’ money is safe and secure, and remained so throughout the outage. Appropriate forensic investigations, typical for these types of investigations, are ongoing and this page will be updated with any new information. There is no credible evidence that significant data was accessed or will be misused. However, we can’t rule this out and are taking all cautionary measures”.

Customers of MyBudget have been advised to take precaution for any Social Media, Text and Email phishing scams. The company also advised that customers will be refunded any late fees that have occurred due to the outage.

Leave a Comment