Payment Processor EgoPay Confirms Hack; Brings Down Website

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Payment Processor EgoPay Confirms Hack; Bring Down Website

ForexMinute.com – Third-party payment processor EgoPay confirmed that it was hacked in December last year, followed by a site hijack on Jan 17-18, which ultimately brought down the entire platform.

The company, in its blog post, assured that it has regained control of everything and is now focusing on minimizing further losses. Here is a summarized version in their own words:

“We apologize for this inconvenience, and will further communicate any news on this site. In summary, we can say the following: – there was a hack and that is why all the merchant related services were turned off – there is talks with an outside investor who is doing due diligence – the employees that were possibly involved or incompetent, have all been fired while investigations continue Due to the above, tickets slowed down since there were no more employees to handle it, however this looks like it is getting rectified as a new team is being assembled to handle this.”

There is however no reports of any money being stolen.

Inside Job
In its post, EgoPay also indicated the possibility that this entire hacking episode might has been orchestrated by one of their employees. The company, after the hack, sacked a number of staff members following which their support service went idle for a few weeks. In the meantime, EgoPay CEO Tada Kasputis also stepped down from his position. What their customers, in the end received, was this quote:

“Rightfully, people are upset at us. We failed to communicate. We failed our membership base. We take full responsibility on this.”

From another excerpt:

“The services are coming back online already along with any exploits already cut off. This was most likely an inside job, but investigations will reveal more in the coming weeks.”

The Conspiracy Theory
The EgoPay notice has also accused the company’s owner Amir Aziz for orchestrating the hacks. The allegations remain unverified till date.

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With an upbringing rooted in deep ethical values, Yashu Gola knows how to put honesty and dedication into his articles. This young and dynamic financial analyst has done his graduation in IT engineering. His interests in financial writing have once brought him to our digital doorsteps. Since then, he has been an integral part of ForexMinute.com and writes the most captivating news-articles on the foreign exchange industry, cryptocurrencies, and medical marijuana trading.