In recent weeks, a hacking group known as Scattered Spider has been making headlines for targeting over 130 organizations, with the number of victims steadily increasing. Prominent organizations like Epic Games, Riot Games, AT&T, and Microsoft have all fallen prey to this threat. The most recent victim, MGM Resorts and Hotels, is currently facing daily losses estimated at $6 million to $8 million, with financial woes expected to worsen in the coming weeks.
A report from Mandiant reveals that the cyber attack on MGM hotels relied heavily on social engineering tactics, which may lead to unexpected disruptions in the company’s operations. The IT teams are working tirelessly to restore the disrupted computer network, but the restoration process is estimated to take approximately 15 days. The ongoing crisis has already caused a cash flow deficit of $1 million and there are concerns about eroding customer trust.
Such threats have a lasting impact on customer perceptions, especially as the holiday season approaches. Many customers may choose alternative entertainment options like online betting or traveling to destinations known for their thriving casino industries. MGM Resorts, which used to enjoy daily cash flows of $7 million and $39 million in revenue, is now heavily reliant on external investments.
It’s important to note that Scattered Spider is known by different names within different organizations, such as Oktapus, UNC3944, and Scattered Swine. This highlights the need for organizations to stay vigilant and implement strong cybersecurity measures to protect their sensitive data and infrastructure.
Key points:
1.
2. Scattered Spider, a hacking group, has targeted over 130 organizations, including prominent companies like Epic Games and Microsoft.
3. MGM Resorts and Hotels is currently facing significant financial losses due to a cyber attack by Scattered Spider.
4. The attack relied on social engineering tactics, causing disruptions in the company’s operations and eroding customer trust.
5. Organizations should prioritize cybersecurity measures to protect against such threats and maintain customer trust.