EquiLend hacked, services shut down due to cyber-attack

January 24, 2024
1 min read

TLDR: EquiLend, a securities lending trading platform, has experienced a cyber-attack that has taken some of its systems offline. The platform has identified the incident as a “technical issue” that involved unauthorized access to its systems. EquiLend is now working with external cybersecurity firms to restore services, but clients have been advised that this may take several days. The platform was founded in 2001 and has a client base of nearly 200 asset owners, banks, and hedge funds.

EquiLend, a securities lending trading platform, has warned clients that its services could be down for several days after suffering a cyber-attack. The platform identified the incident as a “technical issue” that resulted in some of its systems being taken offline. An investigation revealed unauthorized access to the platform’s systems, leading EquiLend to take immediate steps to secure its systems and restore services. However, clients have been informed that the restoration process may take several days.

EquiLend was founded in 2001 by a group of Wall Street firms and has since grown its client base to include nearly 200 asset owners, banks, and hedge funds. The platform provides securities lending trading services to these clients. Last week, it was announced that private equity firm Welsh, Carson, Anderson & Stowe is set to acquire a majority stake in EquiLend.

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