May 26, 2022

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Born to play

Former Ubiquiti employee charged with hacking, extorting company – Security – Networking

A former staff of Ubiquiti was arrested on rates of thieving private knowledge from the wireless technologies organization and using it to need almost US$2 million (A$2.eighty one million) in ransom, federal prosecutors said.

Nickolas Sharp, 36, was arrested in Portland, Oregon, in which he life. He faces an indictment in federal courtroom in Manhattan.

The most severe demand towards him, wire fraud, carries a greatest sentence of twenty years in prison.

Sharp’s lawyer, Nick Wooldridge, could not straight away be reached for comment.

In accordance to the indictment, Sharp in December 2020 is alleged to have continuously downloaded gigabytes of private knowledge from his employer, using a virtual personal network to mask his location.

In January, he allegedly despatched a ransom observe to the organization posing as an nameless hacker and demanding 50 Bitcoin, then really worth about US$1.nine million, in exchange for returning the stolen knowledge and revealing a purported safety vulnerability in the company’s devices, prosecutors said.

When the organization refused, Sharp allegedly posted some of the stolen data, in accordance to prosecutors.

In March, Sharp, posing as an nameless whistleblower, also allegedly falsely told media outlets that the knowledge had been stolen by an unknown hacker, in accordance to the indictment.

Following the publication of numerous news tales about the breach, Ubiquiti’s stock fell about twenty percent, wiping out about US$four billion of its current market capitalisation.