Malabar Gold & Diamonds Suffers Ransomware Attack

Company Overview

There has been ransomware attack at Malabar Gold & Diamonds, a well-established retailer in the jewelry sector, offering a wide range of products including gold, diamond jewelry, and other accessories. This attack has been carried on by the group Snatch.

Industry Standout

Malabar Gold & Diamonds is a leading jewellery retailer with an annual turnover of $4.51 billion, making it one of the largest jewellery retailers globally. The company has a strong retail network of over 285 outlets spread across 10 countries.

It stands out in the industry for its wide range of products and customer-friendly services, such as one-day shipping and various payment options. The company's focus on modern designs and trends in the jewelry sector also sets it apart from competitors.

Vulnerabilities and Targeting

Snatch group, a formidable player in the cyber threat landscape which is known for targeting various industries has been known to exploit weaknesses in Remote Desktop Protocol (RDP) as a primary method of gaining access to victim’s networks. This is often achieved through brute-forcing, where they leverage administrator credentials, sometimes even seeking compromised credentials from criminal forums and marketplaces.

While the specific details about the attack and the company's vulnerabilities are not provided in the search results, it is clear that the Snatch group targeted a well-established retailer in the jewelry industry.

Sources

• Snap project page
• Malabar Gold & Diamonds website