2024-08-01 META MATERIALS INC. Cybersecurity Incident

Page last updated on August 21, 2024

META MATERIALS INC. initially disclosed a cybersecurity incident in an SEC 8-K filing on 2024-08-01 16:30:49 EDT.

Company Summary

Meta Materials Inc. is an advanced materials and nanotechnology company. We develop new products and technologies using innovative sustainable science.

Incident Details

Material: Unknown
Is Breach: Unknown
Records Compromised: Unknown
Data Types Impacted: No Data Types Tracked (yet)

Compromised Date:
Detected Date: 2024-07-25
Disclosure Date: 2024-08-01
Contained Date: 2024-07-29
Recovered Date:

Attack Goal: Unknown

Costs: No Costs Tracked (yet)

Filings

8-K filed on 2024-08-01

META MATERIALS INC. filed an 8-K at 2024-08-01 16:30:49 EDT
Accession Number: 0000950170-24-089345

Item 1.05 Material Cybersecurity Incidents.

On July 25, 2024, Meta Materials Inc. (the “Company”) became aware that its website, email system and other related information technology (IT) systems were significantly disrupted and taken offline. Upon detecting the disruption, the Company immediately began taking steps to restore, contain, and remediate the incident with internal and external cybersecurity experts, including beginning an investigation as to the cause of the disruption. On initial investigation, the Company learned that a former executive officer of the Company deliberately de-activated and cancelled the renewal of the Company’s website, which significantly impacted the Company’s IT systems, including delivery and receipt of electronic email communications from customers, investors and other stakeholders of the Company. With the assistance of outside legal counsel, the Company was able to compel the reinstatement of the website and commenced a process to ensure that IT functionality would continue uninterrupted. The website was re-activated and email systems restored on July 29, 2024, although functionality continues to be stressed and delayed as systems come back online. The Company, along with its internal and external cybersecurity experts, continue to work diligently to respond to and mitigate any impact from the incident.

In addition, the Company continues to evaluate any unauthorized access to sensitive and confidential information of the Company and its stakeholders in connection with this incident. Other than the website being offline for a period of time and delayed communications through the Company’s IT systems, this unauthorized action by the former executive officer does not appear to have had a material impact on the protection of the Company’s intellectual property, or that there was unauthorized access to customer or stakeholder proprietary information. The Company continues to investigate any continuing security issues and IT functionality, and assess other actions the Company will take in response to this security and operational incident.

The Company has not yet determined whether the incident is reasonably likely to materially impact the Company’s financial condition or results of operations.

Company Information