On April 1, 2023, AvidXchange, a leading provider of payment and invoice automation software, announced that it had suffered a data breach. The breach affected a small number of customers and employees, and resulted in the unauthorized access and exfiltration of a significant amount of data.
What Happened
The AvidXchange data breach was the result of a phishing attack. In a phishing attack, an attacker sends an email that appears to be from a legitimate source, such as a company or government agency. The email often contains a malicious link or attachment that, when clicked or opened, installs malware on the victim's computer.
In the case of the AvidXchange data breach, the phishing email appeared to be from a company called "AvidXchange." The email contained a link that, when clicked, took the victim to a fake AvidXchange website. The fake website was designed to look like the real AvidXchange website, and it asked the victim to enter their login credentials.
Once the victim entered their login credentials, the attacker was able to access their AvidXchange account. The attacker then used the victim's account to access other systems, including systems that contained sensitive data.
What Was Leaked
The data that was leaked in the AvidXchange data breach included the following:
Names, addresses, and Social Security numbers of customers and employees
Bank account numbers and credit card numbers of customers
Non-public information about customers' businesses
Passwords and other login credentials
The total amount of data that was leaked is not known, but it is estimated to be in the terabyte range.
What's Next
AvidXchange has taken a number of steps to address the data breach. These steps include:
Notify affected customers and employees of the breach
Offer free credit monitoring and identity theft protection to affected individuals
Disconnect all systems that were affected by the breach
Conduct a forensic investigation of the breach
Work with law enforcement to investigate the breach
AvidXchange has also taken steps to improve the security of its systems. These steps include:
Implementing new security policies and procedures
Investing in new security technologies
Training employees on security best practices
Conclusion
The AvidXchange data breach is a serious incident that has had a significant impact on the company and its customers. The breach has raised concerns about the security of online payment and invoice automation software.
AvidXchange has taken steps to address the data breach and to improve the security of its systems. However, it is important for all organizations that use online payment and invoice automation software to take steps to protect their data and systems from attack.
What You Can Do to Protect Yourself
There are a number of things you can do to protect yourself from the impact of a data breach. These include:
Be aware of the risks. The more you know about the risks of cyberattacks, the better prepared you will be to protect yourself.
Take steps to secure your personal information. This includes using strong passwords, being careful about what information you share online, and monitoring your credit reports for suspicious activity.
Be proactive. If you are the victim of a data breach, take steps to protect yourself from the impact. This may include enrolling in free credit monitoring and identity theft protection.
By taking these steps, you can help to protect yourself from the impact of a data breach.
