UBS employee data leaked after Chain IQ ransomware attack

Hackers from World Leaks breached Chain IQ, publishing UBS employee data and raising serious concerns about third-party cybersecurity risks.
UBS confirms that a ransomware-style attack on supplier Chain IQ led to the leak of sensitive employee data, affecting over 130,000 staff members.

UBS Group AG has confirmed a serious data breach affecting around 130,000 of its employees, following a cyberattack on its third-party supplier, Chain IQ Group AG.

The exposed information included employee names, emails, phone numbers, roles, office locations, and preferred languages. No client data has been impacted, according to UBS.

Chain IQ, a procurement services firm spun off from UBS in 2013, was reportedly targeted by the cybercrime group World Leaks, previously known as Hunters International.

Unlike traditional ransomware operators, World Leaks avoids encryption and instead steals data, threatening public release if ransoms are not paid.

While Chain IQ has acknowledged the breach, it has not disclosed the extent of the stolen data or named all affected clients. Notably, companies such as Swiss Life, AXA, FedEx, IBM, KPMG, Swisscom, and Pictet are among its clients—only Pictet has confirmed it was impacted.

Cybersecurity experts warn that the breach may have long-term implications for the Swiss banking sector. Leaked employee data could be exploited for impersonation, fraud, phishing scams, or even blackmail.

The increasing availability of generative AI may further amplify the risks through voice and video impersonation, potentially aiding in money laundering and social engineering attacks.

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