Tag: GROUP | Page 6

Motilal Oswal falls prey to cyber-attack by ransomware group LockBit, shares fall 2%

February 18, 2024/in Internet Security

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Shares of Motilal Oswal Financial Services fall over two percent in early trade on February 19 after the domestic broking firm was targeted in a cyber-attack by ransomware group LockBit, according to TechCrunch.

The ransomware group added Motilal Oswal to its dark web leak site on Tuesday, in an attempt to blackmail the brokerage for ransom payments. On failure to meet their demands, LockBit threatened to make all the stolen data public.

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At 9.17 am, shares of the brokerage were quoting Rs 1,800 apiece on the NSE, down 2.1 percent.

The domestic brokerage has around six million clients, with total assets under management of around $53 billion.

A spokesperson for the company did not respond to Moneycontrol queries.

India’s Computer Emergency Response Team was in the process of taking all appropriate action, according to the TechCrunch report.

Last year, LockBit launched cyber attacks on Granules India and public sector enterprise National Aerospace Laboratories. The gang is one of the most prolific ransomware gangs of all time, who have previously attacked IT major Accenture, UK’s Royal Mail, Boeing, and the Industrial & Commercial Bank of China.

“This had a major effect on the operations of our business due to significant changes in our IT systems and the time needed for meeting the regulatory expectations, qualifications, recertifications, and fine-tuning of quality and production systems,” the company said.

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Motilal Oswal Financial Services provides various diversified financial services in India. It offers a range of financial products and services, such as wealth management, retail broking and distribution, institutional broking, asset management, commodity broking, private equity, investment banking, and principal strategies.

Over the past one month, shares of Motilal Oswal Financial Services have gained more than 15 percent, with shares settling…

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FACTBOX-What is Volt Typhoon, the alleged China-backed hacking group?

January 31, 2024/in Internet Security

Networks controlled by a pervasive Chinese hacking group dubbed “Volt Typhoon” have been disrupted by a U.S. government operation, Reuters exclusively reported on Monday. The group has alarmed intelligence officials who say it is part of a larger effort to compromise Western critical infrastructure, including naval ports, internet service providers and utilities, raising concerns that the hackers were working to hurt U.S. readiness in case of a Chinese invasion of Taiwan.

Here is what is known about Volt Typhoon and its potential threat: ‘FUTURE CRISES’

Nearly every country in the world uses hackers to gather intelligence. Major powers like the United States and Russia have large stables of such groups – many of which have been given colourful nicknames by cybersecurity experts, such as “Equation Group” or “Fancy Bear.” Experts begin to worry when such groups turn their attention from intelligence gathering to digital sabotage. So when Microsoft Corp said in a blog post in May last year that Volt Typhoon was “pursuing development of capabilities that could disrupt critical communications infrastructure between the United States and Asia region during future crises,” it immediately brought to mind escalating tensions between China and the United States over Taiwan. Any conflict between those two countries would almost certainly involve cyberattacks across the Pacific.

TAIWAN BOTNET Does this mean a group of destructive hackers is preparing to sabotage U.S. infrastructure in the event of a conflict over Taiwan?

Microsoft qualified its assessment last year as “moderate confidence,” intelligence jargon that typically means a theory is plausible and credibly sourced but has yet to be fully corroborated. Different researchers have identified various aspects of the group. It is now clear that Volt Typhoon has functioned by taking control of swathes of vulnerable digital devices around the world – such as routers, modems, and even internet-connected security cameras – to hide later, downstream attacks into more sensitive targets. This constellation of remotely controlled systems, known as a botnet, is of primary concern to security officials because they limit the visibility of cyber…

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What is Volt Typhoon, the alleged China-backed hacking group?

January 31, 2024/in Computer Security

This is AI generated summarization, which may have errors. For context, always refer to the full article.

Hacking group Volt Typhoon alarms intelligence officials, who say it is part of a larger effort to compromise Western critical infrastructure

Networks controlled by a pervasive Chinese hacking group dubbed “Volt Typhoon” have been disrupted by a US government operation, Reuters exclusively reported on Monday, January 29.

The group has alarmed intelligence officials who say it is part of a larger effort to compromise Western critical infrastructure, including naval ports, internet service providers and utilities, raising concerns that the hackers were working to hurt US readiness in case of a Chinese invasion of Taiwan.

Here is what is known about Volt Typhoon and its potential threat:

‘Future crises’

Nearly every country in the world uses hackers to gather intelligence. Major powers like the United States and Russia have large stables of such groups – many of which have been given colorful nicknames by cybersecurity experts, such as “Equation Group” or “Fancy Bear.”

Experts begin to worry when such groups turn their attention from intelligence gathering to digital sabotage. So when Microsoft said in a blog post in May last year that Volt Typhoon was “pursuing development of capabilities that could disrupt critical communications infrastructure between the United States and Asia region during future crises,” it immediately brought to mind escalating tensions between China and the United States over Taiwan. Any conflict between those two countries would almost certainly involve cyberattacks across the Pacific.

Taiwan botnet

Does this mean a group of destructive hackers is preparing to sabotage US infrastructure in the event of a conflict over Taiwan?

Microsoft qualified its assessment last year as “moderate confidence,” intelligence jargon that typically means a theory is plausible and credibly sourced but has yet to be fully corroborated. Different researchers have identified various aspects of the group.

It is now clear that Volt Typhoon has functioned by taking control…

Source…