Weeks after its parent company disclosed a data breach to the Australian Stock Exchange, Australian financial services company Generation Life was listed on the darknet leak site of a notorious hacking group.
The Qilin ransomware-as-a-service operation listed Generation Life in a 15 May leak post. However, the affiliate behind the attack has so far declined to share any details of the hack.
No sample data has been published, nor have any details on the scope of the data been compromised by the incident.
Generation Life has said it is aware of the hacker’s claims.
“Generation Life is currently responding to a cyber incident involving an unauthorised third party gaining access to part of our system via an external service provider. This was first announced [on] 27 April 2026,” Generation Life said in a 17 May update on its website.
According to the company, the incident has been contained, and there is no evidence of any access to systems responsible for investment activities, nor has Generation Life found evidence of any unauthorised transactions.
“We have since become aware of a third party naming Generation Life online alongside claims that they have accessed some of our data,” Generation Life said.
“Since the incident was first identified, specialist cyber security and forensic experts have been continuously engaged to investigate and assess these claims, including this latest development.”
The company is continuing to investigate the scope of the potential breach and will contact those impacted.
“As always, we recommend that our clients, advisers and partners stay vigilant against any unusual or unsolicited communications, including emails, phone calls, SMS, and unfamiliar links,” Generation Life said.
Who is Qilin?
Qilin offers its ransomware to affiliates in return for a cut of any ransom profits. Cyber security training company SANS noted that the group is highly active on certain hacking forums, particularly the Russian-language forum RAMP, before its takedown.
Qilin first emerged in August 2022 and has since then become one of the most active – and most dangerous – ransomware operations on the planet. Its current victim count is 1,842, including 29 victims in Australia and three in New Zealand.
Its most recent Australian victim was hospitality IT solutions provider Bluize, which fell victim to the group on 13 May.
Who is Generation Life?
Generation Life offers a range of investment services and products, including investment bonds, estate and retirement planning, and financial advice. The company has offices in Sydney and Melbourne and is part of the Generation Development Group, which is headquartered in Sydney.
The firm’s parent company, the Generation Development Group, notified the ASX of the initial breach last month.
Want to see more stories from trusted news sources?Make Cyber Daily a preferred news source on Google.
David Hollingworth
David Hollingworth has been writing about technology for over 20 years, and has worked for a range of print and online titles in his career. He is enjoying getting to grips with cyber security, especially when it lets him talk about Lego.