{"id":60187,"date":"2019-02-11T10:40:39","date_gmt":"2019-02-11T16:40:39","guid":{"rendered":"https:\/\/www.pcmatic.com\/blog\/?p=60187"},"modified":"2019-02-11T10:44:39","modified_gmt":"2019-02-11T16:44:39","slug":"hackers-demand-millions-from-msp-after-infecting-networks-with-ransomware","status":"publish","type":"post","link":"https:\/\/www.pcmatic.com\/blog\/hackers-demand-millions-from-msp-after-infecting-networks-with-ransomware\/","title":{"rendered":"Hackers Demand Millions from MSP After Infecting Networks with Ransomware"},"content":{"rendered":"<h3>MSP Falls Victim to Ransomware, Infecting Thousands of Customer Networks<\/h3>\n<p>An unknown hacking group recently targeted a U.S. managed service provider (MSP) with ransomware.\u00a0 This led to thousands of their customers getting infected with malicious software, totaling approximately 2,000 different networks.\u00a0 After the ransomware executed, hackers demanded over $2 million to restore the encrypted files.\u00a0 Whether or not these demands were negotiated and paid, remains unknown.<\/p>\n<p>However, for this particular MSP, the damages could be catastrophic.\u00a0 First, the ransom demands alone are incredibly high and likely improbable for an MSP to acquire.\u00a0 Second, managed service providers are paid to provide a service for their\u00a0customers &#8212; in this case, it was managing their\u00a0cyber security.\u00a0 If you, as a customer,\u00a0pay for a service and that service isn&#8217;t provided, it&#8217;s entirely likely and justified, that the consumer is angry.\u00a0 This anger could lead to finding alternative MSP services elsewhere.\u00a0 Therefore, this attack is not only against the MSP&#8217;s consumer networks, but the MSP&#8217;s livelihood as well.\u00a0 The damages, both financial and reputational, may prove to be detrimental.<\/p>\n<h4>Fears Becoming Reality<\/h4>\n<p>As it turns out, the fear of falling victim to a cyber attack is one that MSPs have been facing for some time.\u00a0 However, there are ways to mitigate this risk.<\/p>\n<p>The MSPs must be using security software that is focused on prevention.\u00a0 This was not the case in this particular attack.\u00a0 According to <a href=\"https:\/\/www.darkreading.com\/attacks-breaches\/ransomware-attack-via-msp-locks-customers-out-of-systems\/d\/d-id\/1333825\">Dark Reading<\/a>, this MSP was providing services that held heavy weight on detection and response.\u00a0 Endpoint detection and response, or EDR, has become a major buzz word in the cyber security industry.\u00a0\u00a0Unfortunately, when it comes to ransomware &#8212; EDR solutions provide rather limited remediation options.\u00a0 The victim either pays the hacker in an attempt to decrypt their files, or they restore from backups.\u00a0 Switching the emphasis to prevention is what MSPs must be doing, not only for themselves but for their customers as well.<\/p>\n<p>This successful ransomware attack is a perfect example of EDR failing to provide adequate protection.\u00a0 If this MSP was using an <a href=\"http:\/\/www.pcmatic.com\/pro\/whitelist\">automated whitelist technology<\/a>, this ransomware variant would have never been able to execute.\u00a0 Why?\u00a0 Because a whitelist will only allow for known, trusted programs to run.<\/p>\n<p>To find a reseller or MSP near you that offers an automated, global whitelist approach to cyber security, click <a href=\"http:\/\/www.pcmatic.com\/pro\">here<\/a>.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MSP Falls Victim to Ransomware, Infecting Thousands of Customer Networks An unknown hacking group recently targeted a U.S. managed service provider (MSP) with ransomware.\u00a0 This led to thousands of their customers getting infected with malicious software, totaling approximately 2,000 different networks.\u00a0 After the ransomware executed, hackers demanded over $2 million to restore the encrypted files.\u00a0 [&hellip;]<\/p>\n","protected":false},"author":54,"featured_media":55159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[7,4949,4944,5000,5090],"tags":[5607,5438,4363],"class_list":["post-60187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsletter","category-ransomware","category-ransomware-reports","category-ransomwarewar","category-slider","tag-edr","tag-msp","tag-ransomware"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hackers Demand Millions from MSP After Infecting Networks with Ransomware<\/title>\n<meta name=\"description\" content=\"MSP Falls Victim to Ransomware, Infecting Thousands of Customer Networks An unknown hacking group recently targeted a U.S. managed service provider (MSP)\" \/>\n<meta name=\"robots\" content=\"index, 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