Zephyr Energy, a British oil and gas firm, reported that £700,000 (nearly $1 million) was stolen from a U.S. subsidiary by hackers who rerouted a payment intended for a contractor to an unauthorized account.
In a regulatory filing with the London Stock Exchange, the company mentioned it is collaborating with banks and consultants to recover the misappropriated funds.
Although the company hasn’t disclosed the specifics of the breach, such incidents often involve hackers accessing email inboxes or accounting systems to modify bank account details. These are known as business email compromise attacks. According to the FBI’s latest report on internet cybercrime, these attacks were responsible for over $3 billion in financial losses in 2025.
Zephyr stated that the event is isolated and their operations are continuing as normal.
Regarding the attack, the company claimed it adhered to “industry standard practices” for its tech and payment systems and has added “extra security measures” after the event.
A spokesperson for Zephyr did not respond to an email inquiry about the situation.
(via The Register)