Chicago housing market disrupted by hackers
A cyber attack in Chicago has caused delays in sales and completions in the area.
Hackers breached the system of Florida-based title business Fidelity National Financial, the parent company of Chicago Title, disrupting the flow of funds and financial information.
Real estate agents and attorneys reported delays, ranging from just half an-hour to an indefinite postponement.
Ransomware group Alphv/Black Cat has claimed responsibility for the hack, which took place on November 19th.
This is the second time this year that a major hack has affected Chicago, as in August hackers targeted agents, causing real estate listings to be taken down.
Fidelity had $9.1 billion in revenue in 2022, while it accounted for 31% of the nation’s title business in 2020.