Medibank share price lifts despite hackers leaking data

The personal details of hundreds of Medibank customers have been made public on the dark web.

| More on:
A Chinese investor sits in front of his laptop looking pensive and concerned about pandemic lockdowns which may impact ASX 200 iron ore share prices

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • The Medibank share price is in the red on Wednesday after hackers behind last month's cyberattack on the company began publishing stolen customer data to the dark web overnight
  • The personal details of hundreds of customers have now been made public, with Medibank warning more data is likely to be released 
  • It comes after the company refused to pay a ransom earlier this week

The Medibank Private Ltd (ASX: MPL) share price is rising in early Wednesday trade after hackers published the data of hundreds of the insurer's customers to the dark web overnight.

The data includes names, addresses, birth dates, contact information, Medicare numbers, and in some cases passport numbers and health claims data.

The company warned of such a possibility yesterday. CEO David Koczkar once again apologised and encouraged impacted Australians to "remain vigilant" on Tuesday.

The Medibank share price is trading at $2.805 right now, 0.9% higher than its previous close.

It has fallen 21% since the S&P/ASX 200 Index (ASX: XJO) health insurer first revealed the 'cyber incident' in mid-October.

Medibank share price rises as hackers publish data

The Medibank share price is gaining on Wednesday despite cybercriminals having published stolen customer data to the dark web after the company refused to pay a ransom.

Medibank previously said the data of nearly 10 million current and former customers had been accessed as part of last month's attack.

The files released overnight appear to be a sample of the data the company previously confirmed was accessed by the criminal.

It expects the criminals to continue publishing customer information on the dark web.

The hackers are now working to fashion the data into a more understandable format than their initial 'data dump', according to various media reports.

They also appear to have published ransom-related discussions with Medibank representatives. The Australian Financial Review quoted them as having told the company yesterday:

Data will be published in 24 hours. PS I recommend sell medibank stocks.

The hackers are reportedly linked to Russian ransomware group, REvil. The group appears to be slowly leaking customers' data, potentially in an attempt to continue extorting the company.

Medibank is still working with the Australian Government, including the Australian Cyber Security Centre, and the Australian Federal Police. Koczkar today said:

This is a criminal act designed to harm our customers and cause distress.

We take seriously our responsibility to safeguard our customers and we stand ready to support them.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Financial Shares

Woman and man calculating a dividend yield.
Financial Shares

Why did Macquarie just downgrade IAG shares to neutral?

The IAG share price is down this morning.

Read more »

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Mergers & Acquisitions

IAG share price lifts off on strategic alliance approval

IAG shares are racing higher in Thursday’s sinking market.

Read more »

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Financial Shares

Want a financial stock outside the big 4 banks? Macquarie tips 15% upside for this small cap financial

For those searching on the edges, this name could be worth a second look according to Macquarie.

Read more »

A man looking at his laptop and thinking.
Financial Shares

Are IAG shares a buy, hold, or sell following the RAC WA deal?

How does Goldman Sachs rate IAG shares after the $1.35B deal with The Royal Automobile Club?

Read more »

A female financial services professional with a manicured black afro hairstyle turns an ipad screen to show a client across the table a set of ASX shares figures in graph format.
Broker Notes

8 alternative ASX financial shares to buy instead of bank stocks: broker

Top broker Macquarie has put an outperform rating on scores of non-bank ASX financial shares.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Financial Shares

IAG share price charges higher on $1.35b deal and guidance update

This blue chip has made a big announcement. Here's what you need to know.

Read more »

A woman holds up hands to compare two things with question marks above her hands.
Financial Shares

Which is better value right now, Soul Patts or Brickworks shares?

Let's dive in and see what the experts have to say.

Read more »

Modern accountant woman in a light business suit in modern green office with documents and laptop.
Financial Shares

How much upside does Macquarie tip for Pinnacle Investment Management shares?

Pinnacle could be a contender to continue rising, according to experts.

Read more »