The open source remote monitoring cellular/WiFi/satellite connectivity platform Cyatta has reported that it has suffered an attack to enable a significant change of information and a major password change.
In a statement, Cytta said that the attack occurred last Thursday October 30th, where an unauthorised person (or persons) accessed the Nevada Secretary of State Corporate filing system known as “Silverflume” and altered the officer and director information contained therein.
“This Corporate information is the backbone of numerous very important systems including banking, regulatory and reporting throughout the US,” it said.
The information on Cytta’s corporate report was altered to change names for board positions to replace Cytta’s normal Nevada state filing status. “Upon discovery, our Registered Agent in Nevada was immediately instructed to correct the false information and further monitor our data,” it said. “State authorities responsible for the integrity of the Silverflume database were also notified. The Silverflume site advises anyone utilising the site that it is a Class C Felony to change, alter or even enter these sections of this Nevada State Corporate Information Site.”
A day later on October 31st, an alert from Cytta’s Transfer Agent notified Cytta of a Federal filing to change the password for Cytta on the EDGAR filing protocols, which Cytta believed was effected based upon the false data the perpetrators had inserted in the Cytta Corporate information in the Nevada Silverflume system.
It said that such a change would allow the perpetrators to issue false Cytta Federal filings through the EDGARNetwork and more importantly, any false data introduced into the Federal EDGAR Reporting system could easily be utilised to wreak havoc with the prices and valuations of public companies.
“Additionally, it could be utilised to convince an innocent EDGAR filer to issue filings that may erroneously be reported to News Services without the proper approvals and authority of the Public Company. Such falsehoods could undermine the public stock trading system and risk economic terrorism,” it said.
Cytta confirmed that its banking officials are examining the potential risk of abuse of the Silverflume data as it is concerned about the potential danger and risk to all public companies that such a simple breach of security makes possible.
It immediately reported the password change as an attempted fraud upon the company, and informed financial services of the unauthorised access.
It said: “The Nevada banking system currently relies upon the information presented within the Secretary of State Silverflume system and by compromising this information hackers could perpetrate enormous harm to public Nevada registered Companies. This breach could alter banking information, change signing authorities, remove funds, and enter transactions and/or create fictitious corporate bank accounts and liabilities.”