Financial technology company Abrigo has restored most of its Sageworks risk management application after an outage caused by irregular activity, based on information published by Bleeping Computer.
The company initiated emergency maintenance on Oct. 30 after detecting suspicious activity, taking the platform offline through the weekend. Abrigo provides cloud-based software to more than 2,400 community banks and credit unions across the United States. The Sageworks product is used to process loan applications and monitor portfolios, handling sensitive banking data. While the company disabled the application at 11:25 a.m. ET to investigate, it has not confirmed whether the incident involved a data breach or a technical failure. Impacted services included the Online Portal Now, Sageworks Analyst and the Sageworks API. Although most functionality is restored, borrower-facing features remain offline. Cybersecurity researchers have advised clients to rotate API keys as a precaution. This incident follows claims made earlier this year by the ShinyHunters extortion group, which alleged the theft of 1.7 million records from the company. Abrigo has not provided further details regarding the nature of the current outage, and the firm did not respond to requests for comment.
Source: Bleeping Computer
