Google warns of hackers sending extortion emails

Google has warned that a hacking group claiming affiliation with the notorious Cl0p ransomware gang is sending extortion emails to executives at various organisations. According to reports by Reuters and Bloomberg, the hackers claim to have stolen sensitive data from Oracle's E-Business Suite, a widely used business application platform.

According to cybersecurity firm Halcyon, which is responding to the campaign, the hackers have demanded ransoms of up to $50 million from some victims and have provided what appears to be proof of compromised data, states the Bloomberg report. The group reportedly gained access by compromising user emails and exploiting password-reset functions in Oracle's systems.

Google's Threat Intelligence Group stated the extortion emails began circulating around September 29, sent from hundreds of compromised third-party accounts. However, Google cautioned that it currently lacks sufficient evidence to verify the hackers' claims about the scale of data theft.

According to the Bloomberg report, Cl0p has a history of major cyberattacks, including the 2023 breach of MOVEit file-transfer software that affected thousands of organisations globally. The current campaign targets companies using Oracle's business management software for operations, including finance and supply chain management, adds the report.