Ransomwhere example5/17/2023 ![]() ![]() To orchestrate the attack, attackers exploited an authentication bypass vulnerability to install and distribute the ransomware software on the host operating systems running the VSA software. In July 2021, attackers performed a supply chain ransomware attack targeting a vulnerability in the firm’s Virtual System Administrator (VSA) software. Kaseya provides IT solutions for enterprise clients and managed service providers (MSPs) in over ten countries. While it took over a year to fully restore Kronos’ core services, the affected companies have since filed lawsuits amounting to millions of dollars in the aftermath of the incident. Through the attack, attackers also obtained the UKG source code, which they threatened to sell if the company could not honor their ransom demands. Many companies using the Kronos service fell victim to cyber threats, where the attackers threatened to release confidential files to the public if the victims failed to pay the ransom. The attack also resulted in a data breach that exposed the employees’ personally identifying information (PII). Ransomware attackers crippled the payroll administrator, resulting in many employees getting inaccurate pay while others failed to get any wages. In December 2021, Kronos’ private cloud platform was targeted in a ransomware attack that lost command and control of its administrative functions. Kronos is a workforce management company offering payroll processing and work-hour tracing services to numerous client companies. Some of the biggest ransomware attacks carried out in the recent past include: Kronos Ransomware Attack As a precaution, although Federal officials, security teams, and other law enforcement agencies warn against paying the ransom demands, ransomware victims often tend to pay out ransom amounts in return for valuable data and retaining services as usual. In instances where the victim of ransomware does not pay on time, the ransom demand is typically increased, or the victim loses access to their data forever.Ī recent study also observed that victims who paid ransom are susceptible to repeat attacks orchestrated through the exact attack vector. In this form of an attack, the threat actor maintains the secrecy of the decryption key until ransom payments are made. What is a Ransomware Attack?Ī ransomware attack involves encrypting critical system files and data to expose or block access unless the victim pays the ransom money. This article discusses a ransomware attack, recent attack examples, vulnerabilities, and prevention practices to mitigate such attacks. Most of such attacks were orchestrated by exploiting inherent vulnerabilities of the tech stack. Recent attacks have successfully targeted major financial institutions, federal contractors, industrial control systems, and private sector businesses. ![]() A ransomware attack is a malware attack in which the attacker prevents access to files or system data until the victim capitulates to the attacker’s ransom demands. Malware is an attack vector installed on a target machine to perform malicious activities over a corporate network and IT devices.
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