Cyberattack pilfers $250K from iLearningEngines

U.S. artificial intelligence firm iLearningEngines has lost a $250,000 wire payment following a cyberattack against its network that also resulted in the compromise of some files and the removal of certain email messages, reports The Record, a news site by cybersecurity firm Recorded Future.

“The wire payment has not been recovered. When it learned of the incident, which has been contained, the Company activated its cybersecurity response plan and launched an internal investigation,” said iLearningEngines in a filing with the Securities and Exchange Commission, which did not detail the incident’s timeline but noted its short-term effect on finances. Such a disclosure from iLearningEngines, which comes months after questions regarding the legitimacy of its revenue figures surfaced, also follows a string of business email compromise attacks resulting in the theft of millions of dollars in recent months, with Luxembourg-based carbon black producer Orion and Tennessee’s Johnson County Schools district losing nearly $60 million and over $3 million, respectively, in separate BEC schemes.