MGM Cyber Attack cost 110 Million

In September the hospitality and entertainment company #MGM Resorts was hit by a #ransomware attack that shut down its systems at MGM Hotels and Casinos.

The incident affected #hotel reservation systems in the United States and other IT systems that run the casino floors.

The company now revealed that the costs from the #ransomware attack have exceeded $110 million. The company paid third-party experts $10 million to clean up its systems.

Allegedly, a criminal gang made up of U.S. and U.K.-based individuals that cybersecurity experts call #Scattered Spider (aka Roasted 0ktapus, UNC3944 or Storm-0875) initiated a social engineering attack that led to the near shutdown of #MGM Resorts International.

Scattered Spider #encrypted several hundred of their #ESXi servers, which hosted thousands of VMs supporting hundreds of systems widely used in the hospitality industry. This caused cascading chaos. As the #ESXi hosts became encrypted one after another, the applications running on them crashed … one after another … after another. Hotel room keys no longer worked. Dinner reservation systems were down. Point-of-sale systems were unable to take payments. Guests were unable to check in or out. Slot machines were completely unavailable. At this point, MGM was hemorrhaging money – and potentially its credibility.

A nice deep technical Analysis by cyber #security company #CyberArk whic details the #attack based on the information currently available, analyze its root causes and discuss key takeaways to help organizations strengthen their security posture.

#cyber #databreach #socialengineering #ransomware #okta #security


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