Google: Dozens of organizations affected by hacking campaign tied to Oracle software

Google: Dozens of organizations affected by hacking campaign tied to Oracle software

Oracle Corp. is investigating hacks of numerous customers’ E-Business Suite applications following an extortion campaign targeting large organizations . The company discovered exploitation of known flaws in its product, for which it had offered patches in July . Rob Duhart, Oracle’s chief security officer, encouraged customers to apply the latest security updates .

Oracle confirmed that customers of its E-Business Suite had received extortion emails, urging them to upgrade their products . The hacking campaign is believed to be high volume and potentially Russia-linked . The ransomware-as-a-service group cl0p, which is tied to the extortion campaign, has demanded millions to tens of millions of dollars in ransom .

The hacking campaign comes as Oracle faces concerns about the profitability of its AI cloud business. The company’s stock dropped nearly 3% after a report raised doubts about its gross margins on Nvidia chip rentals . Despite this, Oracle remains up over 50% for the year on AI enthusiasm, with projected explosive growth in cloud infrastructure revenue .