Waterloo Brewing faces cyberattack resulting in $2.1 million loss

Waterloo Brewing has disclosed that it faced what is it calling a “social engineering cyberattack” that has cost it $2.1 million CAD.

The Kitchener-based brewery says that the cyberattack happened in early November. It involved creditor employee impersonation and fraudulent wire transfer requests by a third-party.

Waterloo Brewing says that it recently became aware of the incident and that it has initiated an analysis of all other transaction activity across all of its bank accounts.

At this time, the brewery does not believe that its systems were breached or that any personal information of its customers is at risk.

The company has not been able to recover any of the money that was wired to the fraudulent third-party account, but is working to get it back.

Waterloo Brewing is working with authorities and local police services and is conducting an internal investigation.

Source: Waterloo Brewing