Waive

Summary

On 18 November 2024, RansomHub listed Waive, a RegTech company that simplifies ASIC compliance for accountants, on its dark web leak site claiming to have exfiltrated 30 gigabytes of data. The stolen data allegedly included contracts, insurance documents, financials, and confidential files. RansomHub posted sample data as proof of the breach. The incident was particularly notable as it targeted a compliance platform used by financial services professionals to meet Australian Securities and Investments Commission regulatory requirements.

What Happened

Waive provides ASIC compliance software and services to Australian accountants and financial services professionals, helping them navigate regulatory requirements. RansomHub, a prolific ransomware-as-a-service operation, targeted the company and claimed to have stolen 30 gigabytes of data containing contracts, insurance documentation, financial records, and confidential files.

The attack's timing was significant as ASIC had announced that one of its 2025 enforcement priorities would focus on Australian Financial Services licensee failures to maintain adequate cybersecurity protections, making a breach of an ASIC compliance provider particularly ironic.

Impact on Individuals

The breach potentially affected Waive's clients—accountants and financial services firms—whose compliance documentation and business records may have been compromised. The specific number of affected parties was not disclosed.

Organisational Response

Waive did not issue a public statement confirming or denying the RansomHub claims or providing details about breach scope and response measures.