In July 2023, TechInnovate Solutions, a leading software development company, fell victim to a sophisticated ransomware attack. The attackers exploited a known vulnerability that was not yet patched in the company's file storage system. As a result, critical project files and customer data were encrypted, severely disrupting operations. Efforts to restore data from backups were partly successful, leading to significant project delays. Though the company refrained from paying the ransom, the incident incurred substantial financial losses due to stalled operations, potential legal liabilities, and reputational damage. This event highlighted the crucial need for regular system updates and employee cybersecurity awareness training.
Source: https://www.crowdstrike.com/cybersecurity-101/cyberattacks/most-common-types-of-cyberattacks/
"id": "tec200050624",
"linkid": "techinnovate-solutions",
"type": "Ransomware",
"date": "07/2023",
"severity": "100",
"impact": "5",
"explanation": "Attack threatening the organization’s existence"