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Codere admits ‘system failings’ following €700K hack

January 22, 2023 · 8:08pm ET | 5:08pm PT
  • Ted Menmuir, SBC News

The US Securities and Exchange Commission (SEC) has been informed by Nueva Codere of a cyberattack to its subsidiary Codere Online, resulting in losses of €744,000 [$810,000].

The admission to the SEC outlined ‘weaknesses in internal controls’, which allowed hackers to access Codere Online’s email systems.

The cyberattack saw hackers pose as ‘Codere Online agents’, who sent ‘manipulated invoices’ to various suppliers of the company demanding urgent payment.

Codere deems the cyberattack to be ‘an isolated event’, in which “the account deposits of the users or their passwords were not put at risk, nor were the confidential data of their users accessed.”