Ransomware and cyberattacks continue to grow according to earlier projections. A new group has announced its presence by launching a cyberattack and demanding $4m as ransom from the target. According to a statement released by Taiwan-based Micro-Star International (MSI), a ransomware gang naming itself ‘Money Message’ has encrypted its servers and is demanding the above sum in exchange for the decryption key.
An existential threat to organizations
MSI is a well-known computer company that manufactures notebooks, PCs, and graphical processing units, as well as industrial PC peripherals used in everything from cars and smart TVs to military systems. Their statement suggests that the hackers gained access to a number of their internal systems and data, including about 1.5TB of information ranging from source code and BIOS tools to current R&D details.
In response, the company is scrambling to put their disaster recovery plans in place and urging users to not download any firmware or BIOS updates from non-official web sources. It is apparent that their organization has been impacted by the event, but a business continuity plan is reportedly in place and the company is working to retrieve their data from it.
At the same time, Money Message has posted screenshots of stolen data on Telegram and several information-selling forums and is threatening to sell the stolen data if MSI’s management refuses to pay their ransom for unlocking the encrypted servers.
Archive and backup systems are essential to preserve business continuity
This event is just another warning to organizations that planning for the future is essential; while MSI is positioned to build themselves back from this event, for any smaller organization a demanded ransom of such scale would prove fatal – as evidenced by the cyberattack on Lincoln University last year.
The first step in preparing your organization to face these challenges is placing a disaster recovery and business continuity plan in place – an integral part of which is ensuring you have access to any of your critical business data despite any encryption or deliberate data corruption that may have occurred. Being able to either continuously access and work with your critical files or in a worst-case scenario do a full restore is a necessity if your organization plans to weather such incidents.
TECH-ARROW has a history of successfully preparing our clients to survive attempted cyberattacks or other incidents, including the notable attack on Emil Frey some years back. We stand ready to lend this proven expertise to other organizations looking to futureproof themselves and put in place safeguards against potential disasters.
If you and your organization are looking to ensure you can weather any hazard in your future – contact us. Take advantage of our combined decades of archiving experience and ensure you have the best protection available.
Take the best steps to protect your data – with TECH-ARROW.
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