Oracle Stock Slumps as ShinyHunters Exploit PeopleSoft Flaw Again

Oracle's stock price has dropped after Google's cybersecurity unit, Mandiant, reported that notorious hacking group ShinyHunters has resumed exploiting a flaw in Oracle's PeopleSoft software. The group's latest campaign shows they have adjusted to guidance published after the initial wave of attacks this summer, targeting organizations that added web application firewall rules but skipped the update Oracle released to fix the vulnerability.

Mandiant found that dozens of systems worldwide across various sectors, including higher education, technology, healthcare, agriculture, transportation, and government, were affected. The FBI is also investigating a reported breach, which ShinyHunters claimed was done through a PeopleSoft vulnerability. Oracle's stock has been under pressure since June, losing about 58% from its 52-week high of $322.54.