Taiwanese PC company MSI (Micro-Star International) has recently fallen prey to a cyber attack, adding to the growing list of ransomware victims in the tech industry. The attack highlights the increasing threat that ransomware poses to businesses and individuals alike.
MSI has officially confirmed the cyber attack on its systems, emphasizing the importance of securing valuable data in today’s digital landscape.
MSI responds to cyber attack
After detecting “network anomalies,” MSI quickly initiated incident response and recovery measures. They also alerted law enforcement agencies about the situation. Yet, MSI hasn’t revealed specifics about the attack’s timing or if it involved exfiltration of proprietary information, such as source code.
In a brief notice shared on Friday, the company stated, “Currently, the affected systems have gradually resumed normal operations, with no significant impact on financial business.” In a regulatory filing with the Taiwan Stock Exchange, MSI also announced the establishment of enhanced network and infrastructure controls to secure data.
MSI further urges users to download firmware/BIOS updates exclusively from its official website and avoid files from other sources.
This disclosure follows the addition of MSI to the list of victims by the new ransomware gang, Money Message. Zscaler brought attention to the threat actor late last month. In an analysis published this week, Cyble mentioned that the group employs a double extortion technique to target victims. This approach involves exfiltrating the victim’s data first and then encrypting it. The group uploads the data on their leak site if the ransom is unpaid.”
This development comes just one month after Acer confirmed its own breach, resulting in the theft of 160 GB of confidential data. The stolen information was advertised for sale on the now-defunct BreachForums on March 6, 2023.
What is ransomware?
Ransomware is a type of malicious software designed to encrypt a victim’s files, rendering them inaccessible until a ransom is paid to the attacker. Typically, the attacker demands payment in cryptocurrency to ensure anonymity. Ransomware attacks can target individuals, businesses, and even government organizations. The consequences of these attacks can range from loss of critical data to significant financial damage and reputational harm.
To protect against ransomware attacks, it is crucial to maintain regular backups of important files and data. Keeping software and operating systems up-to-date is also essential. Employing strong security measures, such as firewalls and antivirus software, can provide added protection.
Raising awareness about ransomware and promoting safe online practices among employees is vital. This approach helps prevent attacks through phishing emails and other common entry points for cybercriminals.
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