TechWave Inc.

In July 2023, TechWave Inc., a leading software development firm, fell victim to a sophisticated ransomware attack. The attackers exploited a previously unknown vulnerability within the company's external-facing network, leading to the encryption of critical project files and operational data. Despite having robust cybersecurity measures in place, the cybercriminals demanded a substantial ransom for the decryption keys. The attack not only disrupted TechWave Inc.'s project timelines but also posed significant reputational damage as news of the breach became public. Efforts to recover the encrypted data are ongoing, with the company working closely with cybersecurity experts and law enforcement to address the breach. The immediate financial impact was assessed to be in the high tens of thousands, with long-term effects on customer trust and ongoing contracts still being evaluated.

Source: https://www.crowdstrike.com/cybersecurity-101/cyberattacks/most-common-types-of-cyberattacks/

TPRM report: https://scoringcyber.rankiteo.com/company/techwave-inc

"id": "tec104050824",
"linkid": "techwave-inc",
"type": "Cyber Attack",
"date": "07/2023",
"severity": "100",
"impact": "5",
"explanation": "Attack threatening the organization’s existence"

{'affected_entities': [{'industry': 'Software Development',
                        'name': 'TechWave Inc.',
                        'type': 'Software Development Firm'}],
 'attack_vector': 'Exploitation of an unknown vulnerability in the '
                  'external-facing network',
 'data_breach': {'data_encryption': True,
                 'type_of_data_compromised': 'Critical project files and '
                                             'operational data'},
 'date_detected': 'July 2023',
 'date_publicly_disclosed': 'July 2023',
 'description': 'In July 2023, TechWave Inc., a leading software development '
                'firm, fell victim to a sophisticated ransomware attack. The '
                'attackers exploited a previously unknown vulnerability within '
                "the company's external-facing network, leading to the "
                'encryption of critical project files and operational data. '
                'Despite having robust cybersecurity measures in place, the '
                'cybercriminals demanded a substantial ransom for the '
                'decryption keys. The attack not only disrupted TechWave '
                "Inc.'s project timelines but also posed significant "
                'reputational damage as news of the breach became public. '
                'Efforts to recover the encrypted data are ongoing, with the '
                'company working closely with cybersecurity experts and law '
                'enforcement to address the breach. The immediate financial '
                'impact was assessed to be in the high tens of thousands, with '
                'long-term effects on customer trust and ongoing contracts '
                'still being evaluated.',
 'impact': {'brand_reputation_impact': 'Significant reputational damage',
            'data_compromised': 'Critical project files and operational data',
            'financial_loss': 'High tens of thousands',
            'operational_impact': 'Disruption of project timelines'},
 'initial_access_broker': {'entry_point': 'External-facing network'},
 'investigation_status': 'Ongoing',
 'motivation': 'Financial gain',
 'ransomware': {'data_encryption': True, 'ransom_demanded': True},
 'response': {'law_enforcement_notified': True,
              'remediation_measures': 'Efforts to recover the encrypted data '
                                      'are ongoing',
              'third_party_assistance': 'Cybersecurity experts'},
 'threat_actor': 'Unknown cybercriminals',
 'title': 'Ransomware Attack on TechWave Inc.',
 'type': 'Ransomware Attack',
 'vulnerability_exploited': 'Unknown vulnerability'}