For four days this past week, Internet-of-Things giant Ubiquiti failed to respond to requests for comment on a whistleblower’s allegations that the company had massively downplayed a “catastrophic” two-month breach ending in January to save its stock price, and that Ubiquiti’s insinuation that a third-party was to blame was a fabrication. I was happy to add their eventual public response to the top of Tuesday’s story on the whistleblower’s claims, but their statement deserves a post of its own because it actually confirms and reinforces those claims.
On Jan. 11, Ubiquiti Inc. [NYSE:UI] — a major vendor of cloud-enabled Internet of Things (IoT) devices such as routers, network video recorders and security cameras — disclosed that a breach involving a third-party cloud provider had exposed customer account credentials. Now a source who participated in the incident response to that breach alleges Ubiquiti massively downplayed a “catastrophic” incident to minimize the hit to its stock price, and that the third-party cloud provider claim was a fabrication.
Ubiquiti, a major vendor of cloud-enabled Internet of Things (IoT) devices such as routers, network video recorders, security cameras and access control systems, is urging customers to change their passwords and enable multi-factor authentication. The company says an incident at a third-party cloud provider may have exposed customer account information and credentials used to remotely manage Ubiquiti gear.