Info Whistleblower: Ubiquiti Breach “Catastrophic”

[SynoMan]

On Jan. 11, Ubiquiti Inc. [NYSE:UI] — a major vendor of cloud-enabled Internet of Things (IoT) devices such as routers, network video recorders and security cameras — disclosed that a breach involving a third-party cloud provider had exposed customer account credentials. Now a source who participated in the response to that breach alleges Ubiquiti massively downplayed a “catastrophic” incident to minimize the hit to its stock price, and that the third-party cloud provider claim was a fabrication.

Read more here:

Final Thoughts on Ubiquiti – Krebs on Security

And Ubiquiti's official statement:

https://community.ui.com/questions/Update-to-January-2021-Account-Notification/3813e6f4-b023-4d62-9e10-1035dc51ad2e

 

[Robbie]

I'm not sure UI is ready to listen or learn from their frequent missteps over the last 2 years or so. Presumably this is driven by arrogance from the top and the continual exit of talent from lower down in the company structure.