Ransomware attack on Cloud Company Netgain

    Netgain, a cloud hosting provider that offers desktop-as-a-service to companies based in healthcare and accounting sector, have made it official that it became a victim of a sophisticated ransomware attack that has impacted thousands of its servers in November this year.

    Going on with what is known to Cybersecurity Insiders, the servers of the Netgain were targeted by a file encrypting malware on November 24th, 2020. The threat monitoring systems of the managed IT services provider raised a red flag the next day, after which the company sent emails to all its customers that they might witness a slowdown or a kind of outage while accessing its services.

    But on December 4th, 2020 the company sent another email to its customers notifying them it is closing down its data center as a precautionary measure to contain the spread of malware that has already impacted most of its tier 1 storage servers.

    Netgain Cloud has announced that it has reassessed its Cybersecurity measures and has installed additional security measures to reduce the impact of the current incident and to avoid any such incidents in the future.

    Note- Targeting cloud services providers has become a lucrative business to cyber criminals these days as these companies depend a lot of data and its continuous flow to clients is essential to keep the money flow intact to the business. So, if such providers are targeted by a file encrypting malware, then the hackers can gain a sure shot earning with the activity. As they can sell the stolen data on dark web if their victim denies paying a ransom for a decryption key.

    Naveen Goud
    Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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