October 20, 2014

DigiNotar Officially Bankrupt

(LiveHacking.Com) – The American parent company of the Dutch certificate authority (CA) DigiNotar has announced that DigiNotar is now officially bankrupt. VASCO Data Security International filed DigiNotar’s voluntary bankruptcy in the Haarlem District Court, The Netherlands at the beginning of this week and one day later the CA was officially declared bankrupt. A bankruptcy trustee, under the supervision of a judge, has now taken over the management of DigiNotar and will work to liquidate the company.

The Dutch government stepped in and took over DigiNotar after it was discovered that the company had been hacked and had been used to issue fake SSL certificates for various major sites, including Google, Mozilla, the CIA, MI6 and Mossad.

T. Kendall Hunt, VASCO’s Chairman and CEO said in a statement, “we would like to remind our customers and investors that the incident at DigiNotar has no impact on VASCO’s core authentication technology.”

“We want to emphasize that the bankruptcy filing by DigiNotar, which was primarily a certificate authority, does not involve VASCO’s core two-factor authentication business,” added Jan Valcke, VASCO’s President and COO.

It was DigiNotar’s failure to be upfront about the security breach which was the main reason it lost all credibility. Having suffered the breach, weeks went past before it started to inform the different domain name owners about what happened. Also the serial numbers for the issued certificates could not be found in DigiNotar’s records. This led to the conclusion that an unknown number of certificates were issued, probably more than 500.

“We are working to quantify the damages caused by the hacker’s intrusion into DigiNotar’s system and will provide an estimate of the range of losses as soon as possible,” said Cliff Bown, VASCO’s Executive Vice President and CFO.

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