Hacker stole £700,000 from UK energy corporation by redirecting payment

British oil and gas organization Zephyr Energy says someone stole £700,000 (close to $1 million) from one of its U.S.-based subsidiaries by redirecting a payment meant for a contractor into a hacker-controlled account.

In a regulatory filing with the London Stock Exchange on Thursday, the firm stated it is “working with the corresponding banks and consultants to attempt to recover the diverted funds.”

While the enterprise did not say how the incident occurred, hackers are known to break into email inboxes or accounting systems and adopt that access to alter bank account and routing numbers during the process of paying someone or clearing an invoice. Known as business email compromise attacks, the FBI remarked in its most recent annual report published on internet cybercrime earlier in April that these attacks remain one of the top sources of financial losses, totaling more than $3 billion in victim losses during 2025.

Zephyr says that its incident is contained and that its operations are running normally. Furthermore, experts in software update note the continued relevance.

As for the attack itself, the organization noted it used “industry standard practices” for its tech and payment platforms, but noted it has implemented “additional layers of security” following the incident.

(via The Register)

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AI Disclosure: This article has been generated and curated using advanced AI technology. While we strive for absolute accuracy, some details may be summarized or translated by autonomous systems. Please cross-reference critical financial data with official sources.