Reviews toy manufacturer Mattel reports ransomware attack

17:20  04 november  2020
17:20  04 november  2020 Source:   zdnet.de

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Hack, Sicherheitsluecke (Bild: Shutterstock) © DEFAULT_CREDIT hack, security gap (Image: Shutterstock) cyber blackmailers smuggled malware into some of the company's systems on July 28th. Mattel claims to end the attack before any major damage occurs. The company also denies compromising customer and business data.

The US toy manufacturer Mattel became the victim of a ransomware attack . The company announced this in an mandatory stock exchange report that the US Securities and Exchange Commission (SEC) published yesterday. The incident itself occurred on July 28th.

The attack was therefore initially successful and led to the encryption of some systems. "Immediately after the attack was discovered, Mattel began enforcing its security protocols and taking a number of measures to stop the attack and restore the affected systems," the SEC said. “Mattel has contained the attack, and although some business functions were temporarily impaired, Mattel has resumed operations.”

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A forensic investigation that was carried out afterwards came according to the company concluded that the blackmailers did not steal any “confidential business data or data from customers, suppliers, consumers or employees”. Many cyber extortionists are now pursuing a two-pronged strategy in which they not only encrypt data, but also copy it onto their own servers in order to have another leverage against their victims.

Additionally, Mattel stated that the attack did not have a material impact on business operations or financial condition. As such, the company appears to have survived the incident with only a brief IT system failure and no serious damage.

attacks with ransomware can lead to massive IT failures, which can lead to massive restrictions in day-to-day business for companies and organizations. This is exactly what cyber criminals aim to achieve in order to extort the highest possible ransom money. In May, Cognizant estimated the damage from a ransomware attack at $ 50 to 70 million. In March 2019, a week after a similar attack, aluminum manufacturer Norsk Hydro spoke of additional costs of $ 40 million.

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