Apollo discloses data breach from ongoing wave of attacks hitting financial sector

The private equity firm said attackers broke into some of its cloud platforms during a five-day period in early July, compromising sensitive personal data.

Apollo Global Management confirmed it was among several financial institutions impacted by a string of social engineering attacks that hit the sector last month, the company said Friday. 

Attackers gained unauthorized access to some of the private equity firm’s cloud platforms between July 6 and July 10, the company said in a data breach notification filed in California. Apollo did not say when or how it became aware of the intrusion and did not respond to a request for comment.

Apollo is the first victim to formally disclose that sensitive personal data under its care was compromised by a wave of attacks that have hit large private equity firms, law firms, financial rating agencies and medical technology companies. 

The company did not name the group responsible for the attack. Yet, Google earlier this month attributed the ongoing campaign to BlackFile, a threat group affiliated with The Com, that recently split its extortion operations across four brands with shared infrastructure: Redact, Pink, Helix and Falcon. 

“Upon detecting the incident, we promptly notified law enforcement, engaged leading outside cybersecurity and forensic experts, enhanced our security protocols, and launched an investigation,” Matthew Breitfelder, global head of human capital at Apollo, wrote in the disclosure notice. 

As part of its ongoing investigation, Apollo said it determined on Aug. 12 that personal data including names, dates of birth, contact information, home addresses and Social Security numbers were compromised. The company did not say how many people were impacted, but noted it’s thus far found no evidence any data was posted online or used for identity theft or fraud.

Apollo is one of the world’s largest private equity firms, with $1.05 trillion in assets under its management at the end of June, according to a regulatory filing.

Researchers previously told CyberScoop some of Apollo’s largest competitors, including Blackstone and Bain Capital, were also targeted with malicious infrastructure, but it’s unclear if those firms were compromised.

BlackFile and its various affiliates have impacted organizations in multiple industries, including healthcare, technology, transportation, logistics, wholesale, and retail and hospitality since the beginning of this year.

The extortion group shifts from one sector to the next, impersonating IT support in voice-phishing and social-engineering attacks before threatening its alleged victims with extortion demands, which often start around $3 million and are typically negotiated down to less than $1 million.

Google researchers also previously said some of the group’s recent victims have been subject to threatening messages and other forms of escalation, including swatting incidents, a tactic adopted by several subsets of The Com.

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