TechSolutions Ltd.

In March 2023, TechSolutions Ltd., a prominent software development firm, fell victim to a sophisticated ransomware attack that encrypted crucial development data and demanded a hefty ransom for decryption keys. The attackers exploited a known vulnerability that had not yet been patched by the company's IT team. This incident caused significant downtime, leading to a delay in product development and service delivery. The financial losses encompassed not just the ransom paid (in an unsuccessful attempt to regain the encrypted data) but also the cost of emergency cybersecurity measures, legal fees, potential compliance fines, and reputational damage. Furthermore, the breach eroded customer trust, with several clients terminating their contracts.

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

TPRM report: https://scoringcyber.rankiteo.com/company/techsolutions-ltd

"id": "tec401050624",
"linkid": "techsolutions-ltd",
"type": "Vulnerability",
"date": "04/2023",
"severity": "100",
"impact": "5",
"explanation": "Attack threatening the organization’s existence"

{'affected_entities': [{'customers_affected': 'Several clients terminating '
                                              'their contracts',
                        'industry': 'Software development',
                        'name': 'TechSolutions Ltd.',
                        'type': 'Software development firm'}],
 'attack_vector': 'Known vulnerability exploitation',
 'data_breach': {'data_encryption': 'Crucial development data encrypted',
                 'type_of_data_compromised': 'Crucial development data'},
 'date_detected': 'March 2023',
 'description': 'In March 2023, TechSolutions Ltd., a prominent software '
                'development firm, fell victim to a sophisticated ransomware '
                'attack that encrypted crucial development data and demanded a '
                'hefty ransom for decryption keys. The attackers exploited a '
                'known vulnerability that had not yet been patched by the '
                "company's IT team. This incident caused significant downtime, "
                'leading to a delay in product development and service '
                'delivery. The financial losses encompassed not just the '
                'ransom paid (in an unsuccessful attempt to regain the '
                'encrypted data) but also the cost of emergency cybersecurity '
                'measures, legal fees, potential compliance fines, and '
                'reputational damage. Furthermore, the breach eroded customer '
                'trust, with several clients terminating their contracts.',
 'impact': {'brand_reputation_impact': 'Reputational damage, eroded customer '
                                       'trust',
            'data_compromised': 'Encrypted crucial development data',
            'downtime': 'Significant downtime',
            'financial_loss': 'Ransom, emergency cybersecurity measures, legal '
                              'fees, potential compliance fines, reputational '
                              'damage',
            'legal_liabilities': 'Legal fees, potential compliance fines',
            'operational_impact': 'Delay in product development and service '
                                  'delivery'},
 'initial_access_broker': {'entry_point': 'Known vulnerability exploitation'},
 'motivation': 'Financial gain',
 'post_incident_analysis': {'root_causes': 'Known vulnerability not patched'},
 'ransomware': {'data_encryption': 'Crucial development data encrypted',
                'ransom_demanded': 'Hefty ransom',
                'ransom_paid': 'Ransom paid (unsuccessful attempt)'},
 'regulatory_compliance': {'fines_imposed': 'Potential compliance fines'},
 'response': {'remediation_measures': 'Emergency cybersecurity measures'},
 'title': 'Ransomware Attack on TechSolutions Ltd.',
 'type': 'Ransomware Attack',
 'vulnerability_exploited': 'Known vulnerability'}