Cybersecurity incident
Zephyr Energy plc has reported a cybersecurity incident affecting one of its U.S. subsidiary companies, resulting in the diversion of approximately £0.7 million to a third-party account. The company has notified law enforcement and is working to recover the funds, with IT systems assessed and contained by consultants, and operations continuing normally. Additional security measures have been implemented, and the board confirms sufficient working capital to prevent impact on ongoing operations.
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Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF) reports that one of its U.S. subsidiary companies has been targeted in a cybersecurity incident.
The highly sophisticated incident involved the diversion of a single payment to a contractor and resulted in funds of circa £0.7 million being transferred to a third-party account. Upon discovery of the incident, the Company immediately notified the relevant law enforcement authorities and is working with the corresponding banks and consultants to attempt to recover the diverted funds.
The Company's IT systems have been thoroughly assessed by a leading cybersecurity consultant, the incident is contained, and the Company's operations and corporate activity are continuing as normal. The Company's IT consultants continue to monitor the Company's systems.
While Zephyr uses industry standard practices in relation to its technology and payment systems, additional layers of security have been implemented as a result of this attack.
The Company's board of directors can confirm that the Company has more than sufficient working capital to ensure that this isolated matter will not impact the Company's ability to perform its ongoing operations.
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