In March 2023, Tech Innovate fell victim to a severe Ransomware attack that significantly impacted their operations. The cybercriminals managed to encrypt crucial data, demanding a hefty ransom for its release. Despite efforts to mitigate the situation, the attack led to a temporary shutdown of production lines, causing delays in service delivery and financial losses estimated in millions. The attack not only threatened the existence of Tech Innovate but also shook its customer base's trust, leading to a notable decline in future contracts and partnerships. Tech Innovate has since invested in strengthening its cybersecurity framework to prevent such incidents in the future. The severity of this attack underscores the critical need for robust security measures and constant vigilance in the digital landscape.
Source: https://www.crowdstrike.com/cybersecurity-101/cyberattacks/most-common-types-of-cyberattacks/
"id": "tec709050824",
"linkid": "tech-innovate",
"type": "Ransomware",
"date": "03/2023",
"severity": "100",
"impact": "5",
"explanation": "Attack threatening the organization’s existence"