Tech Innovations Inc.

In July 2023, Tech Innovations Inc., a leading software development firm, experienced a significant ransomware attack, causing widespread disruption to its operations. The attackers managed to encrypt crucial development data and demanded a hefty ransom for the decryption key. Although no customer data was reported as compromised, the attack led to substantial operational downtime, affecting delivery timelines for several key projects. The breach was attributed to a phishing scam that targeted employees, exploiting a known vulnerability that had not been patched timely. An internal investigation revealed that the attackers could have accessed sensitive intellectual property, though the full extent of the data compromised remained unclear. The incident highlighted the need for improved cybersecurity practices and employee awareness within the company.

Source: https://www.darkreading.com/vulnerabilities-threats/ransomware-attacks-strike-south-africa-decline-in-uae

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

"id": "tec516050424",
"linkid": "tech-innovations-inc",
"type": "Ransomware",
"date": "07/2023",
"severity": "100",
"impact": "5",
"explanation": "Attack threatening the organization’s existence"

{'affected_entities': [{'industry': 'Information Technology',
                        'name': 'Tech Innovations Inc.',
                        'type': 'Software Development Firm'}],
 'attack_vector': 'Phishing',
 'data_breach': {'type_of_data_compromised': ['Sensitive intellectual '
                                              'property']},
 'date_detected': 'July 2023',
 'description': 'In July 2023, Tech Innovations Inc., a leading software '
                'development firm, experienced a significant ransomware '
                'attack, causing widespread disruption to its operations. The '
                'attackers managed to encrypt crucial development data and '
                'demanded a hefty ransom for the decryption key. Although no '
                'customer data was reported as compromised, the attack led to '
                'substantial operational downtime, affecting delivery '
                'timelines for several key projects. The breach was attributed '
                'to a phishing scam that targeted employees, exploiting a '
                'known vulnerability that had not been patched timely. An '
                'internal investigation revealed that the attackers could have '
                'accessed sensitive intellectual property, though the full '
                'extent of the data compromised remained unclear. The incident '
                'highlighted the need for improved cybersecurity practices and '
                'employee awareness within the company.',
 'impact': {'data_compromised': ['Potential access to sensitive intellectual '
                                 'property'],
            'downtime': 'Substantial operational downtime',
            'operational_impact': 'Affected delivery timelines for several key '
                                  'projects'},
 'initial_access_broker': {'entry_point': 'Phishing scam targeting employees'},
 'investigation_status': 'Internal investigation revealed potential access to '
                         'sensitive intellectual property',
 'lessons_learned': 'Need for improved cybersecurity practices and employee '
                    'awareness',
 'motivation': 'Ransom',
 'post_incident_analysis': {'root_causes': 'Exploiting a known vulnerability '
                                           'that had not been patched timely'},
 'ransomware': {'data_encryption': 'Crucial development data',
                'ransom_demanded': 'Hefty ransom'},
 'title': 'Ransomware Attack on Tech Innovations Inc.',
 'type': 'Ransomware Attack',
 'vulnerability_exploited': 'Known vulnerability not patched timely'}