Caesars paid millions in ransom to cybercrime group prior to MGM hack
Publishing timestamp: 2023-09-15 15:28:15
Summary
The article reports that days before MGM's computer systems were attacked, Caesars paid a $15 million ransom to a cybercrime group that had infiltrated and disrupted its systems. The same group is believed to be behind the attacks on both companies. Caesars does not expect the ransom payment or fallout to have a significant impact on its bottom line. The cybercrime group also demanded a $30 million ransom from Caesars, but the company agreed to pay half that amount. The costs will be partially covered by Caesars' cyber insurance policies. The article also mentions that the cybercrime group is a serious threat to large companies in the United States and has been linked to attacks on other companies as well. It is unclear why Caesars delayed filing a report disclosing the hack and ransom.
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Keywords: hacking, politics, breaking news: politics, mgm resorts international, alphabet inc, breaking news: technology, twilio inc, okta inc, internet, business news, technology, caesars entertainment inc, cloudflare inc, cybersecurity, enterprise, breaking news, united states,