BusinessPostCorner.com
No Result
View All Result
Friday, May 30, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

MGM casinos’ cyber attack blamed on western hacking group

September 14, 2023
in Finance
Reading Time: 3 mins read
A A
0
MGM casinos’ cyber attack blamed on western hacking group
ShareShareShareShareShare

Receive free Ransomware updates

We’ll send you a myFT Daily Digest email rounding up the latest Ransomware news every morning.

A cyber criminal gang proficient in impersonation and malware has been identified as the likely culprit for an attack that paralysed networks at US casino operator MGM Resorts International.

The group, which security researchers call “Scattered Spider”, uses fraudulent phone calls to employees and help desks to “phish” for login credentials. It has targeted MGM and dozens of other western companies with the aim of extracting ransom payments, according to two people familiar with the situation.

The operator of hotel casinos on the Las Vegas Strip, including the Bellagio, Aria, Cosmopolitan and Excalibur, pre-emptively shut down large parts of its internal networks after discovering the breach on Sunday, one of the people said.

The effort to contain the hackers caused chaos. Slot machines stopped working, electronic transfers of winnings slowed down and key cards for thousands of hotel rooms no longer functioned. MGM did not respond to a request for comment.

The FBI said it was investigating, and the Nevada Gaming Control Board was informed of the breach’s impact, with the state’s governor Joe Lombardo coordinating with local and national law enforcement, the board said in a statement.

Scattered Spider is a relatively new entrant in the ransomware industry and has hit at least 100 organisations, most of them in the US and Canada, in the two years that Mandiant has been tracking it, said Charles Carmakal, chief technology officer at the Google-owned cyber security group.

“They are very active, very disruptive and causing chaos and do a good
good job of breaking in and causing a lot of pain,” he said.

Scattered Spider stands out from rivals among the Russian-speaking cyber criminal gangs that dominate the multibillion-dollar ransomware industry, which focuses on software attacks to encrypt or steal data and demand ransoms.

The gang learns about individuals from social media profiles in order to impersonate them and make phone calls in English to glean passwords or digital codes needed to access networks.

Recommended

The group’s members are likely based in the UK or Europe, Carmakal said. “They’re successful because they are very good at research and have good skills,” he added.

At a sprawling company such as MGM, with thousands of employees and several overlapping networks, shutting down some internal functions to contain the breach would be a standard approach, said Steve Stone, head of Rubrik Zero Labs, another cyber security company.

Its various systems — from hotel check-ins to financial transactions — had been engineered to trust one another, he said.

“Given the widespread challenge MGM is having, it seems there’s a lot of trust built into their environments,” Stone said. “That makes for a highly efficient business until there’s a problem — and that strength is now your weakness.”

Credit: Source link

ShareTweetSendPinShare
Previous Post

The Power Of Personal Values In Leadership

Next Post

SFC Warns Unregistered Crypto Exchange JPEX of Potential Criminal Liability

Next Post
SFC Warns Unregistered Crypto Exchange JPEX of Potential Criminal Liability

SFC Warns Unregistered Crypto Exchange JPEX of Potential Criminal Liability

Somerset farmers aim to go green without SFI grants

Somerset farmers aim to go green without SFI grants

May 29, 2025
Inflation-weary Americans queue for toilet paper and cheap Bordeaux

Inflation-weary Americans queue for toilet paper and cheap Bordeaux

May 29, 2025
Half the world population could be diabetic or insulin resistant by 2050

Half the world population could be diabetic or insulin resistant by 2050

May 26, 2025
Trump’s $TRUMP Coin Gala Under Fire: Lawmakers Push For DOJ Inquiry Ethics of Exclusive Dinner

Trump’s $TRUMP Coin Gala Under Fire: Lawmakers Push For DOJ Inquiry Ethics of Exclusive Dinner

May 23, 2025
Salesforce exec says rise of AI agents means ‘every job should be rethought’

Salesforce exec says rise of AI agents means ‘every job should be rethought’

May 23, 2025
Morgan Stanley denies Dutch prosecutor’s tax evasion allegations

Morgan Stanley denies Dutch prosecutor’s tax evasion allegations

May 29, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Costco takes a page from rival Sam’s Club to speed up checkout in its warehouses with ‘Scan & Pay’

Costco takes a page from rival Sam’s Club to speed up checkout in its warehouses with ‘Scan & Pay’

May 30, 2025
Trump accuses China of ‘violating’ tariff truce

Trump accuses China of ‘violating’ tariff truce

May 30, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!