Balmain

Summary

Balmain, an Australian asset management and lending firm, was hit by a cyberattack on 29 January 2024 that caused widespread system outages lasting over a week. The attack rendered the Balmain Private mortgage fund website inaccessible and interrupted services for Metro Finance. The company confirmed investments and funds remained secure but declined to disclose specifics about the nature of the hack or potential ransom demands.

What Happened

On 29 January 2024, Balmain suffered a cyberattack that triggered widespread system outages across its IT infrastructure. The attack rendered the website for the Balmain Private mortgage fund inaccessible for more than a week and disrupted services well into February. The company's IT systems were significantly impacted, though other business segments under Balmain including AMAL, Wave Money, and MitchCap continued operations without disruption.

Impact on Individuals

Limited information is available about what data, if any, was compromised in the attack. Balmain reassured customers that their investments and funds remained intact throughout the incident. Customers and business partners should:

• Monitor accounts for any unusual activity
• Be alert for phishing attempts impersonating Balmain
• Watch for business email compromise scams
• Verify any unusual requests through known contact channels

No major ransomware groups publicly claimed responsibility for the attack.

Organisational Response

Balmain confirmed the cyber incident and stated they were addressing the IT security issue with specialists. The company's spokesperson refrained from divulging specifics regarding the nature of the hack or whether ransom demands were made. Balmain prioritized reassuring customers that investments and funds were secure. Other business segments including AMAL, Wave Money, and MitchCap, which offer various financial services under the Balmain umbrella, continued operations without disruption during the incident.