German-managed IT service provider BITMARCK has been listed on a dark web data leak forum. A threat actor under the alias LeakBase has shared sensitive data from Jira and the database of the company.
BITMARCK is a leading provider of IT solutions for the German public health insurance market, offering services to a variety of health insurers, including company and craft guild insurers, DAK-Gesundheit, and alternative insurers.
The threat actor claims to have access to hashed passwords, customer personal information, VIP customer and C-Level employee personal information, user and employee personal information.
BITMARCK and the extent of data breach
BITMARCK provides technical infrastructure, solutions, and consulting in the field of public health insurance. The company, which began operation in 1994, serves customers throughout the country.
The attack comes weeks after BITMACK’s annual German accelerator programme GKV Impulse Accelerator, which focused on improving payments tech in the health insurance sector.
One of nine European start-ups that took part, Irish business MedoSync emerged winner. The company developed a platform that integrates hospital and insurer systems to enable more accurate and real-time medical billing.
BITMARCK would engage MedoSync in adapting the Irish business’ medical billing technology to the German company’s health insurer network, which serves more than 25 million German consumers.
Insurance, data, and data breaches
Insurance companies are vulnerable to cyber-attacks due to the sensitive personal information they possess on their customers, such as health records and income details.
The consequences of a cyber-attack on an insurance company include interruption in business operations, financial loss, reputational damage, and operational issues.
Additionally, customers may file legal cases against the company for not protecting their personal data, leading to a loss of trust and future customers.
Recently, shareholders of Australian insurance giant Medibank grilled the company board members and executives about the incident that resulted in hackers drip-feeding client data and demanding a $US1 per customer ransom from the company.
The company is currently facing legal and regulatory actions.
In January, the Japanese arms of Zurich Insurance and Aflac were put for sale on BreachForums. The breached data came up on the dark web days after Zurich Insurance CEO Mario Greco said that cyber incidents might no longer be insurable.
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