Frustration Mounts Online After Verdance Cyberattack Freezes Payroll and Business Transfers

As systems at Verdance Financial began to recover from a crippling ransomware attack that halted back-office payment operations earlier this month, frustration across social media showed no signs of easing.

From missed paycheques and delayed rent to shops unable to pay suppliers, Canadians took to X and Facebook to voice their anger over the multi-day outage — and what many described as “vague” communication from the credit union during the disruption.

“So @Verdance employee payroll is locked up from that cyberattack and now my rent is going to be late,” posted user @leahdubois. “This is so messed up it’s not even funny.”

Another user, @justincarr, whose profile identifies him as a small business owner in Quebec, expressed similar concerns under the hashtag #VerdanceHack.

“When is Verdance going to give us a straight answer on how long this mess will last and when we can get paid?? I can’t keep operating my shop with suppliers on hold and bills piling up.”

On Facebook, users echoed the sentiment.

“Currently in downtown Toronto, and yet another ATM is down because of the Verdance Financial cyberattack,” wrote Paul Martin. “All the disruptions this week have seriously screwed over so many local businesses.”

The attack, which began in early February, stemmed from a phishing breach that allowed attackers to encrypt internal systems. While consumer-facing services such as debit cards and ATM withdrawals remained functional, internal financial systems — including payroll, loan approvals, and wire transfers — were rendered inoperable for several days.

Verdance has since brought in cybersecurity firm Redfield Mandiant to assist with containment and recovery, and committed $20 million toward strengthening its digital security infrastructure. But for many affected users, the damage extended beyond systems — it hit trust.

“The tech might be fixed,” wrote one reply, “but good luck repairing your reputation.”

Reporting where the public speaks loudest — online and unfiltered. — Jamie Mora