According to a supposed whistleblower, Ubiquiti was hacked and tons of worthwhile data was stolen, from source code to passwords. As I read it, Ubiquiti’s legal team quashed any actions that weren’t legally required, and worded the breach notification in such a way as to obfuscate the fact that they were the target of the hack.
By the time Ubiquiti got big, I had pretty much quit keeping up with networking equipment. Actually, when I first heard about them, I thought they were a Chinese company, and shied away from their products for that reason. It turns out they aren’t a Chicom company, but I’m kind of glad that I avoided them.