Fintech Company Survived Ransomware Attack Without Paying Ransom

#News(Security) [ via IoTGroup ]

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Hackers silently entered the computer network of London-based banking software maker Finastra in mid-March, as the company was focused on developing emergency plans for operating amid the emerging Covid-19 coronavirus pandemic. Moving with precision and speed, they captured employee passwords and installed backdoors in dozens of servers in critical parts of Finastra’s network.

Although hardly a household name, Finastra Group Holdings Ltd. is an essential part of the global financial system, its software and services running everything from banks’ websites to the back-office systems they use to manage their own money. Its more than 8,500 customers include 90 of the world’s 100 largest banks.

For three days, the attack went unnoticed. But the hackers’ activity on one of Finastra’s cloud servers set off a tripwire that alerted the company’s security team and triggered a destructive finale to the intrusion. On March 20, the hackers—apparently aware they were being hunted—began detonating a potent strain of ransomware called Ryuk.

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