Canadian hedge fund Waratah Capital Advisors reports data breach exposing client data
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Waratah Capital Advisors Ltd., a Toronto-based hedge fund manager overseeing approximately $4 billion in assets is reporting a cybersecurity incident that potentially compromised sensitive client information.
The breach was discovered on June 24, 2024. It targeted backup systems managed by Waratah's external IT service provider. The attack exploited vulnerabilities in the third-party IT provider's systems. Waratah reported the breach to law enforcement authorities and initiating an investigation.
Exposed data includes:
- Investor names and addresses
- Social insurance numbers (SINs)
- Dates of birth
- Phone numbers
- Account numbers
- Investment amounts and account sizes
The number of affected individuals has not been disclosed.
The company has informed affected clients that the full investigation could take several weeks to complete, as they work to determine the complete scope and impact of the cybersecurity incident. As part of their response efforts, Waratah is providing affected clients with 24 months of complimentary credit monitoring services.
