Cyber attack on SETU Waterford cost €2.3 million

Sean Ryan

A cyber attack on an Irish University cost millions of euros, it has been revealed.

South East Technological University (SETU) in Waterford, formerly known as Waterford Institute of Technology, is facing a bill of more than €2.3 million following a major cyber attack that disrupted its Waterford campuses in late 2024.

The university’s latest annual report shows that direct costs linked to the attack currently stand at €1.9 million.

The college further expects to spend a further €400,000 replacing outdated hardware that is no longer compatible with new security systems.

The cyber incident was first detected in November 2024 and left staff and students without internet access or internal email services.

The disruption came as the university was preparing for student conferring ceremonies. At the time SETU President, Professor Veronica Campbell emphasised that the situation “was nobody’s fault, many organisations find themselves facing similar challenges.”

The report said: “Additional investigation is being undertaken by the National Cyber Security Centre (NCSC) and the university is also working with the Garda National Cyber Crime Bureau (GNCCB)."

The university is not alone in facing cyber threats. A 2023 cyberattack at Munster Technological University (MTU) in Cork cost that institution €4.2 million.

The university has also received Circuit Court legal proceedings from a data subject linked to the attack.

As a result of the attack, MTU’s Cork campus was temporarily closed following the IT breach and phone outages.

A ransom was demanded, but MTU refused to engage. Since the attack, new systems and enhanced controls have been introduced, and KPMG has been engaged by MTU to review and implement measures.