Ransom Rebels! MGM Hackers Waited For Days Before Issuing Financial Demands: Report
Portfolio Pulse from Nabaparna Bhattacharya
MGM Resorts International's CEO, Bill Hornbuckle, reportedly ignored hackers' ransom demands after they infiltrated the casino chain's computer system. The company had already discovered the cyberattack and begun rebuilding systems that were pulled offline. The attack is suspected to have been carried out by Scattered Spider, a group also suspected of a parallel digital invasion at Caesars Entertainment, Inc. MGM estimates a negative impact of approximately $100 million due to the attack.
October 11, 2023 | 12:40 pm
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NEGATIVE IMPACT
Caesars Entertainment, Inc. is suspected to have faced a parallel digital invasion by the same group that attacked MGM Resorts International.
The suspected cyberattack could potentially lead to data leaks or financial losses, which could negatively impact the company's reputation and financial performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
MGM Resorts International faced a cyberattack and ignored the hackers' ransom demands. The company estimates a negative impact of approximately $100 million.
The cyberattack and the subsequent refusal to pay the ransom could potentially lead to further attacks or data leaks, which could negatively impact the company's reputation and financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100