EquiLend Details

    Organization Logo

    EquiLend

    New York City, New York • 300 employees • Healthcare

    https://equilend.com/
    United States

    Industry

    Healthcare

    Security Incidents

    1

    EquiLend is a global financial technology firm specializing in providing technology services to the securities finance industry. Founded in 2001, the company was established through a consortium of leading financial institutions, including Goldman Sachs, J.P. Morgan, and Morgan Stanley, among others. EquiLend offers a range of services designed to streamline trade execution, data and analytics, and post-trade operations, making securities lending more efficient for its clients. Notable products include its Next Generation Trading (NGT) platform, which facilitates trading in a standardized and ...
    Show more

    Security Incidents

    EquiLend Breach of Jan 2024
    Severity Score
    Significant to High

    Type

    Ransomware Attack

    Summary

    In late January 2024, EquiLend experienced a significant ransomware attack which disrupted many of its services. The incident led to the temporary unavailability of key platforms such as NGT, Post-Trade Solutions, Data & Analytics Solutions, and RegTech Solutions. However, services like EquiLend Spire and the ECS Loan Market remained unaffected and operational. EquiLend responded swiftly, employing both internal teams and third-party cybersecurity experts to address the breach, secure its systems, and begin a structured recovery process. By early February, the majority of EquiLend’s services w...
    Show more

    Severity

    The cybersecurity incident faced by EquiLend in January 2024 was marked by a significant ransomware attack that compromised several of their key services. It necessitated involvement from third-party experts, regulators, and law enforcement, signifying the attack’s complexity and the critical nature of the threat. Despite the significant disruption, EquiLend managed to restore full functionality within a few weeks, though the attack undoubtedly highlighted vulnerabilities and caused substantial operational challenges to both EquiLend and its clients.

    Considering the widespread impact, the sop...
    Show more

    Impact

    The recent cybersecurity incident at EquiLend was a ransomware attack that temporarily disrupted several of their key services. While there was no explicit mention of customer data exposure, the impact on service availability was significant, affecting the functionality of multiple solutions across their Trading, Post-Trade, RegTech, and Data & Analytics systems. Internal company data, including possibly intellectual property, may have been accessed, but there's no specific indication of source code or other highly sensitive data being leaked. EquiLend's continuous collaboration with third-par...
    Show more

    KEEP YOUR ENVIRONMENT SECURE

    Weak credentials are the leading cause of breaches. Beyond Identity can help.

    See MFA exploits in action
    Watch how adversaries exploit companies in quick videos