TechGlobal Inc., a leading provider in innovative cloud solutions, faced a significant ransomware attack in June 2023, leading to operational disruptions. The attackers encrypted critical data and demanded a hefty ransom. Despite rapid response efforts, the company experienced temporary service outages affecting thousands of global clients. The attack highlighted vulnerabilities in the company's cybersecurity framework, prompting a comprehensive security overhaul. The incident's financial impact is estimated at $5 million, considering direct ransom expenses, system recovery costs, and lost revenue due to service interruptions. Moreover, the attack dented the company's reputation, leading to a temporary decline in stock value.
Source: https://spin.ai/resources/ransomware-tracker/
"id": "tec812050624",
"linkid": "techglobal-inc",
"type": "Ransomware",
"date": "06/2023",
"severity": "100",
"impact": "5",
"explanation": "Attack threatening the organization’s existence"