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US regulators sue SolarWinds and its security chief for alleged cyber neglect ahead of Russian hack

  • SolarWinds, a Texas-based technology company, is being sued by U.S. regulators for fraud related to their failure to disclose security deficiencies and cybersecurity risks before a Russian cyberespionage hack in 2020.
  • The Securities and Exchange Commission alleges that SolarWinds and its former vice president of security, Tim Brown, concealed poor cybersecurity practices and vulnerabilities, depriving investors of accurate information. The company's internal documents and communications are cited as evidence of their knowledge of the risks.
  • The SEC also claims that SolarWinds failed to disclose that the vulnerability exploited by the Russian hackers was also used to target other customers, including cybersecurity firms and a federal agency. The enforcement action by the SEC comes as part of increased attention to cybersecurity breaches.
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BleepingComputer broke the news in on Monday, October 30, 2023.
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