Hacker Steals $250,000 from iLearningEngines in Suspected BEC Attack
The company iLearningEngines has reported a cyberattack in which perpetrators gained unauthorized access to its network and diverted $250,000. This was disclosed in a filing submitted to the SEC.
According to the documents, an unidentified hacker infiltrated the corporate network and redirected an active bank transfer to their own account. The stolen funds have yet to be recovered. While the company has not specified the date of the incident or the nature of the attack, the description suggests it was a Business Email Compromise (BEC) scheme—a tactic commonly targeting organizations engaged in wire transfers or dealing with foreign suppliers.
Additionally, the attacker deleted portions of email correspondence and accessed certain files within the corporate network. Details about the nature of these files remain undisclosed. The company has not yet responded to media inquiries regarding the incident.
The filing further notes that the breach has resulted in unforeseen expenses, which may continue to escalate, and has significantly impacted the company’s operations during the current financial quarter. For the second quarter of 2024, iLearningEngines reported losses amounting to $314 million against revenues of $135 million.
iLearningEngines, which markets itself as a developer of AI-driven learning automation solutions, went public in April 2024 and currently serves over 1,000 corporate clients.
