iLearningEngines Hit by Cyberattack: $250,000 Lost in Suspected BEC Attack

iLearningEngines Hit by Cyberattack: $250,000 Lost in Suspected BEC Attack

AI training software company iLearningEngines falls victim to a cyberattack, losing $250,000 and potentially exposing sensitive data. In today's digital age, cybersecurity threats are a constant concern for businesses of all sizes. Recently, U.S.-based iLearningEngines, a provider of AI training software for enterprises, became the target of a cyberattack. The company alerted regulators to the incident, which resulted in the loss of $250,000 and the potential compromise of sensitive data. Breaking Down the Attack: BEC Likely Culprit While iLearningEngines hasn't disclosed the specific details of the attack, the reported misdirection of a wire transfer strongly suggests a Business Email Compromise (BEC) scam. BEC attacks are a prevalent form of cybercrime where attackers impersonate legitimate individuals or companies within an organization's email network. They then use this fraudulent identity to trick employees into authorizing fraudulent payments or divulging sensitive inf…