Silicon Valley Venture Capital startup hit by Ransomware

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A Ransomware Attack on the Silicon Valley based Venture Capital firm is said to have led to the data leak of the company’s private investors and limited partners. And highly placed sources say that the hackers accessed and stole critical financial information and are threatening them to publish details online if they do not receive the demanded ransom.

The company that is in discussion is Advanced Technology Ventures(ATV) that is worth $1.8 billion in assets and was targeted by the file encrypting malware spreading gang on July 9th of this year.

ATV says that it realized the incident on July 26th,2021 and reported to the FBI and a third party security firm for investigation.

In a letter written to Maine Attorney General Office, Advanced Technology Ventures lost details such as names, addresses, contact details and social security numbers of over 300 investors that include some limited partner details as well.

Mike Caruso, the Managing Director of ATV, hasn’t acknowledged the incident. However, a source from the company agreed that the few of the digital assets were suffering under the hands of those spreading ransomware. The source added the hackers’ gang was employing double extortion technique to extract ransom at any cost.

From 1979, ATV invests huge on companies involved in technology, communications, software and healthcare sector.

Note- A double extortion ransomware attack is when hackers steal data from a database and then encrypt it until a ransom is paid. And if the victim denies paying a ransom, then the siphoned data is sold on the dark web.

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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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