MSI Ransomware Attack. MSI (Micro-Star International) stated today that its network was hacked in a cyberattack.
MSI’s IT department began an information security defense mechanism and recovery process after discovering several information systems being targeted by hackers. The Company has also informed the appropriate government authorities about the irregularity.
The company provided no information on the time of the assault, whether any of the compromised systems were encrypted, or whether the attackers stole business and customer information during the event.
According to an MSI official, the threat actors wanted a $4,000,000 ransom for the data which was stolen from the MSI servers the amount of data stolen was around 1.5TB of records from MSI’s network.
Money Message has now threatened to reveal the stolen Data next week if MSI does not satisfy its ransom demands. However, MSI stated that the incident had no “significant” operational or financial impact and that security measures had been taken to protect the security of data held on compromised systems.
Restoring Damaged Systems and Maintaining Financial Stability
According to MSI, the damaged systems have progressively resumed regular functioning, with no substantial financial consequences from the cyber assault. This update was sent to stakeholders in a brief message on Friday, assuring them of the company’s resilience in the face of hardship.
MSI disclosed its plans to establish additional controls throughout its network and infrastructure in a regulatory filing with the Taiwan Stock Exchange. The firm emphasises the significance of data security and the protection of sensitive information.
MSI advises consumers to receive firmware and BIOS upgrades only through the company’s official website, and to avoid downloading files from unofficial sources. This warning emphasizes the possible consequences of unauthorized downloading and the significance of attention in the digital era.
Navigating Cyber Security in a Digitally Increasing World
The event highlights the significance of strong cybersecurity practises in an increasingly digital environment as MSI strives to recover from the ransomware assault and strengthen its security procedures.
Businesses and individual users must both be attentive, remaining informed of possible risks and using best practices to protect their data and systems.
With cyber assaults on the rise, companies like MSI and Acer must prioritise security and resolve any vulnerabilities as soon as possible.
What Can Institutions Do To Avoid Such Attacks?
Listed out precautions that organizations can take to prevent such attacks in the future
- Creating awareness among users regarding cyber-attacks, online scams, and phishing campaigns.
- Enacting strong password policies and enabling multi-factor authentication (MFA).
- Updating and patching software, systems, and networks regularly.
- Maintaining multiple backups – both online and offline in separate and secure locations.
- Monitoring logs for unusual traffic and activity to websites and other applications.
- Blocking illegitimate IP addresses and deactivating port-forwarding using network firewalls.
- Performing real-time monitoring of the internet to identify and mitigate low-hanging threats such as misconfigured apps, exposed data and leaked accesses that are leveraged by cybercriminals to carry out large-scale attacks.
- Avoid clicking on suspicious emails, messages, and links.
- Refrain from downloading or installing unverified apps.
- Use strong passwords and enable multi-factor authentication (MFA) across accounts.
ParadigmIT Cyber Security Team implements security measures to prevent a ransomware attack from happening in the first place. We will continuously monitor for suspicious activity and detect signs of attack and also involves in setting up automated tools and our products Xprotect and 360 View and conducts regular security audit (VAPT) . This can include regular system updates, implementing firewalls and intrusion detection systems, and restricting user access to sensitive data.
Overall, having a skilled and experienced cyber security team can help to minimize the impact of a ransomware attack and prevent it from happening again in the future.
References:
MSI confirms security breach following ransomware attack claims (bleepingcomputer.com)
Taiwanese PC Company MSI Falls Victim to Ransomware Attack (thehackernews.com)
MSI Confirms Cyberattack After Fresh Demand From Ransomware Group (informationsecuritybuzz.com)
For further clarifications or support, please write to contact@paradigmitcyber.com
