Incident Overview: In July 2023, A fintech company (redacted) suffered a significant ransomware attack. The attack did not originate from common vectors like phishing or credential theft. Instead, the attackers exploited an unpatched vulnerability in the fintech's virtual private network (VPN) software. This vulnerability allowed them to gain
Background: In this case study, we will examine a ransomware attack on a Consumer Packaged Goods (CPG) company that resulted in a 10-day outage. The company initially chose not to pay the ransom but to restore from backups. However, a time bomb embedded in the backups led to a recurrence
In the vast and intricate landscape of cybersecurity threats, ransomware has emerged as a formidable and increasingly prevalent menace. For private equity (PE) firms and their portfolio companies, the implications of ransomware are far-reaching and the stakes higher than ever. But why has ransomware become such a critical concern, and
Private equity (PE) firms, which often manage billions in assets, have always maintained a keen focus on optimizing operations, driving growth, and managing risks for their portfolio companies. With the rise of the digital era and the increasing sophistication of cyber threats, cybersecurity has emerged as a paramount concern for
Background: A renowned consumer goods company boasting annual revenue of approximately $125 million found itself ensnared by a sophisticated social engineering scam. Crafty fraudsters managed to convince the accounts payable team to transfer $750,000 into a foreign bank account. To the company's dismay, their cyber insurance policy
How a $25 Million ARR Company's Oversight Led to Catastrophic Data Loss and Financial Chaos: A Ransomware Debacle The devastating consequences of undervaluing cybersecurity were recently underscored when a private equity backed healthcare-focused SaaS company, with a $25 million ARR, fell victim to a crippling ransomware attack. With
Private equity companies are not only prime targets for malicious entities due to the extensive personal and financial information they oversee but also face significant risks from ransomware attacks that threaten system availability. ughout the organization.