Updated February 25, 2024

1. What happened?

In January, EquiLend identified a ransomware incident affecting functionality of portions of our platforms and certain services. We immediately engaged third-party cybersecurity experts and launched an investigation into the nature and scope of this incident. As part of our swift response, we took immediate steps to contain the incident and internal and third-party experts worked methodically to restore impacted services. All EquiLend services are now available to clients.

2. When did you first learn of this incident?

We identified this incident on the evening of January 22, 2024 ET / the morning of January 23, 2024 UTC.

3. Can we continue to email with EquiLend?

Our third-party cybersecurity partners have advised, based on the investigation, they have no concern about exchanging emails with EquiLend as normal.

4. Has data been exfiltrated from your systems?

While we are continuing to investigate, based on the review to date, we have not identified evidence that client transaction data was accessed or exfiltrated in the cybersecurity incident. We will continue to share pertinent updates as they become available.

5. When will the platform/affected services be back online?

All EquiLend services are now available to clients.

6. Did you notify law enforcement?

Yes, we notified law enforcement and they continue to engage with us.

7. What is EquiLend doing about this?

Upon discovering the incident, we immediately engaged third-party cybersecurity experts and launched an investigation into the nature and scope of this incident. We have also notified law enforcement. As part of our swift response, we took immediate steps to contain the incident and enhance our monitoring capabilities, including by implementing SentinelOne and CrowdStrike 24/7 monitoring.

In addition, internal and third-party experts worked methodically to restore impacted services with the utmost urgency and diligence, and all EquiLend services are now available to clients.

8. How could something like this have happened?

Tech touches everything we do at EquiLend and – as a result – so does cybersecurity. We employ robust cybersecurity protocols and enforce a culture of security across our people, processes and policies.

We take our commitment to cybersecurity incredibly seriously. We engaged third-party experts to thoroughly investigate this incident, and will follow their guidance in keeping with best practices to emerge from this incident as an even more secure organization.

9. How did this group gain access to your systems?

The initial entry vector likely has been identified, and remediated. We are sharing pertinent details directly with our clients.

10. Is there a forensic investigation underway? Is it complete?

The forensic investigation is complete. We are sharing pertinent updates directly with our clients.

11. Where can I get more information?

Please contact your client relationship manager if you have additional questions.