<\/p>\n
A US bank is preparing to hand out millions of dollars after a data breach exposed customers\u2019 personal information.<\/p>\n
The Nebraska-based Union Bank and Trust Company (UBT) has agreed<\/a> to shell out $2.4 million to settle a class action lawsuit accusing the lender of failing to implement or maintain adequate data security measures to protect customers\u2019 private information.<\/p>\n According to the lawsuit, the \u201cCL0P Ransomware Gang\u201d committed a cyberattack in May 2023 that exploited the bank\u2019s third-party MOVEit file-transfer software, developed by Progress Software Inc., to gain access to customers\u2019 personal information.<\/p>\n Progress warned the bank of an \u201cunauthenticated SQL vulnerability that could allow unauthorized actors to escalate user privileges and access UBT\u2019s MOVEit Transfer environment.\u201d<\/p>\n Once notified, UBT took \u201cMOVEit offline and installed patches to fix the vulnerability.\u201d However, the bank\u2019s investigation found that personal information of about 204,291 customers \u201chad been potentially taken\u201d before the vulnerability was fixed.<\/p>\n UBT denies the allegations and any liability, but says it has agreed to settle the matter. The settlement is pending court approval.<\/p>\n Under the proposed agreement, the funds will be used to pay for reimbursement of up to $10,000 for documented losses due to misuse of their data or a cash payment of $100, as well as two years of credit monitoring and identity theft protection for the impacted customers.<\/p>\n The settlement will also pay for administrative costs and attorneys\u2019 fees.<\/p>\n Founded in 1917, UBT is headquartered in Lincoln, Nebraska, and has about $9 billion in assets under management.<\/p>\n Follow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" A US bank is preparing to hand out millions of dollars after a data breach exposed customers\u2019 personal information. The Nebraska-based Union Bank and Trust Company (UBT) has agreed to shell out $2.4 million to settle a class action lawsuit accusing the lender of failing to implement or maintain adequate data security measures to protect […]<\/p>\n","protected":false},"author":2,"featured_media":422648,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-422640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/422640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=422640"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/422640\/revisions"}],"predecessor-version":[{"id":422649,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/422640\/revisions\/422649"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/422648"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=422640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=422640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=422640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n
\nDon’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
\n
\nCheck Price Action<\/a><\/span><\/em>
\n
\nSurf The Daily Hodl Mix<\/a><\/span><\/em>
\n<\/p>\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n