Olympus Tech Giant Hit By BlackMatter Ransom Attack

BACKGROUND:

Technology giant Olympus hit by BlackMatter ransomware. Olympus said Saturday that it “is currently investigating a potential cybersecurity incident affecting limited areas of its EMEA (Europe, Middle East, Africa) IT systems. Emsisoft CTO Fabian Wosar said in a tweet that the BlackMatter crypto routines are identical to those used by the DarkSide ransomware group responsible for the recent Colonial Pipeline attack. The Olympus Statement gives September 8th as the date of the incident. A ransom note left on the computer stated “Your network is encrypted, and not currently operational,” … “If you pay, we will provide you the programs for decryption.

Experts Comments

September 14, 2021
Stephen Bradford
SVP EMEA
SailPoint

Steve considers how the disruptive nature of ransomware goes beyond financial losses – now having the potential to bring organisations’ operations to a standstill. In addition, how paying ransoms offers no guarantee of data being returned, and why a layered approach to security control is necessary.

September 14, 2021
Saryu Nayyar
CEO
Gurucul

Organizations are kept up at night by the prospect of being hit by ransomware, and now Olympus, an international tech company, is the latest victim. In the case of Olympus, it was the BlackMatter ransomware, which is essentially the same as the attack on the Colonial Pipeline back in April. Unless BlackMatter relents, it has the potential to cost Olympus millions of dollars to get its network unencrypted.

Until enterprises can completely protect their systems from attack, the only early warning

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Organizations are kept up at night by the prospect of being hit by ransomware, and now Olympus, an international tech company, is the latest victim. In the case of Olympus, it was the BlackMatter ransomware, which is essentially the same as the attack on the Colonial Pipeline back in April. Unless BlackMatter relents, it has the potential to cost Olympus millions of dollars to get its network unencrypted.

Until enterprises can completely protect their systems from attack, the only early warning available is to monitor network activity in detail to detect anomalous activity, and rapidly track it down to close any security holes. IT teams and security professionals have to be constantly vigilant, but they also need the right tools for early detection and remediation.

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