NioCorp Developments, a NASDAQ-listed minerals company, reported a significant cybersecurity incident on Valentine's Day where cybercriminals redirected about $500,000 that was supposed to go to a vendor. The breach involved parts of NioCorp's email systems. Following the discovery, the company notified financial institutions and federal law enforcement in an attempt to recover the funds. While ongoing investigations focus on the extent of the breach's impact, NioCorp has not determined whether it will materially affect their finances or operations.
The company self-discovered the cybersecurity incident and promptly notified certain financial institutions and federal law enforcement in an effort to recover the misdirected vendor payments.
As of the date of this filing, the company has not yet determined whether the cybersecurity incident is reasonably likely to materially impact the company's overall financial condition.
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