Exela Technologies Suffers Ransomware Attack by Hive Leak Group

Company Overview

Exela Technologies is a global provider of business process automation solutions, focusing on automating key financial processes, human capital management, healthcare payers and revenue cycle management, payment technologies and services, data science solutions, and hyper automation and work from anywhere services. The company boasts a presence in over 50 countries and serves more than 4,000 customers.

Vulnerabilities and Threats

The ransomware attack on Exela Technologies underscores the growing threat of cyberattacks on businesses, especially those leveraging cloud-enabled solutions and third-party service providers. Hive Leak, the group behind this attack, has recently increased its activity, targeting numerous entities within the healthcare sector. Notably, the group has transitioned to using Rust for programming, complicating the detection of their malware.

Mitigation Strategies

Although specific details regarding the Exela Technologies attack remain undisclosed, the incident highlights the critical need for comprehensive cybersecurity measures. Businesses should enforce strong password policies, secure cloud-based solutions, and remain vigilant against social engineering tactics. Regular application of software patches and attention to coding/configuration errors are essential, along with a thorough evaluation of the security posture of third-party service providers.

The ransomware attack on Exela Technologies is a stark reminder of the persistent cyber threats facing businesses, particularly within the business process automation industry. As Exela Technologies recovers from this incident, it is imperative for the company and others to prioritize cybersecurity to fend off future attacks.

Sources

• Exela Technologies. (n.d.). Business Process Automation Solutions | Exela. https://www.exelatech.com
• Exela Technologies. (2019, August 27). How the BAD GUYS Get In: 22+ CyberAttack Vectors | Exela. https://www.exelatech.com/blog/how-bad-guys-get-22-cyberattack-vectors
• Tech Monitor. (2022, July 14). Hive ransomware victims: Apetito, Exela and G4S among seven new alleged victims. https://techmonitor.ai/technology/cybersecurity/hive-ransomware-victims-apetito-exela-g4s
• The Cyber Express. (n.d.). Activist Investor Grills Exela Technologies' Board On Cyberattack. https://www.upguard.com/security-report/exelatech-com
• DrySign. (2023, July 5). 10 Cybersecurity Threats and How eSignatures Can Protect Your Business. https://drysign.exelatech.com/blog/10-cybersecurity-threats-and-how-esignatures-can-protect-your-business