Telecom Falls Victim To A $7.5 Million Ransomware Attack
Telecom Falls Victim To A $7.5 Million Ransomware Attack
July 21, 2020
Telecom Falls Victim To A $7.5 Million Ransomware Attack
Telecom Falls Victim To A $7.5 Million Ransomware Attack
July 21, 2020

Telecom, the largest telecommunications company of Argentina, has fallen victim to a ransomware attack, as hackers are demanding $7.5 million in Monero (XMR), an amount that will rise to $15 million if the company does not pay within 48 hours.

It has been reported by El Tribuno that the ransomware attack, which specifically affected Telecom’s call center, took place on July 18, as the ransomware was ultimately contained by the Argentinian conglomerate’s IT workers.  

The company explained:

“Telecom reports that it managed to contain a cyber attack attempt, of global dispersion, on its platforms. No critical services of the company were affected. It should also be noted that no client of the company was affected by this situation, as well as the bases of company data. Customer service efforts, suspended preventively, will be gradually restored.”

However, the attack does not seem to have affected services provided by the company such as landlines, mobile phones, or the Internet.

ALSO READ :  Saxo Bank’s 2020 Prediction: ‘Asia Will Launch Its Own Blockchain-Based Digital Asset’

ZDNet quotes sources inside the ISP provider who say that hackers caused “extensive damage” to Telecom’s network. They claim that the hackers successfully deployed their ransomware to more than 18,000 workstations across the company.

Also, the report added that the REvil ransomware gang or Sodinokibi could be behind the attack, as the hackers posted a tweet claiming its responsibility by attaching a screenshot of the website, but it was deleted at some point between July 19 and 20.

As the hacker’s point of entry was a malicious e-mail attachment sent to one of Telecom’s employees, it doesn’t fit at all with the tactics used by the gang, as it often deploys the attack through network-based intrusions by targeting vulnerabilities within the IT infrastructure.

Likewise, most of the official websites belonging to Telecom are now online after a downtime suffered after the attack.

ALSO READ :  Creator of Zcash Donates Trademark Ownership To Zcash Foundation

According to the report, one of the most prominent tweets is an image from a seemingly official company statement in which it acknowledges the attack and lists a series of recommendations for its employees to follow.

Thus, Telecom Argentina did not provide any further information to local media outlets about the incident.

Source: Cointelegraph | Image: The Times of Israel


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.