Centric Telecom Inc. Suffers Ransomware Attack by Lockbit2 Group

Centric Telecom Inc., a telecommunications company, has been targeted by the ransomware group Lockbit2. The attack was announced on the group's dark web leak site, and Centric Telecom is now dealing with the consequences of the cybersecurity incident.

Company Overview

Centric Telecom Inc. is a telecommunications company that provides services in the telecommunications sector. The company's website offers information about their services, including voice, data, and cloud solutions. Centric Telecom's website does not provide detailed information about the size of the company or its specific market position within the telecommunications industry.

Vulnerabilities and Targeting

Ransomware attacks are a significant threat to organizations worldwide, with 71% of organizations experiencing at least one ransomware attack in 2022. The average total cost of a ransomware attack in 2022 was $4.3 million. Centric Telecom, like many other companies, is vulnerable to these attacks due to the increasing prevalence of ransomware incidents.

The specific vulnerabilities that led to Centric Telecom being targeted by Lockbit2 are not detailed in the available information. However, ransomware attacks often exploit weaknesses in a company's cybersecurity defenses, such as outdated software, unpatched systems, or weak passwords. In the case of Centric Telecom, it is unclear whether these or other vulnerabilities were exploited by the attackers.

Mitigating Ransomware Attacks

To mitigate the risk of ransomware attacks, organizations should implement robust cybersecurity measures, such as regular software updates, strong password policies, and employee training on cybersecurity best practices. Additionally, having a comprehensive incident response plan can help organizations respond effectively to ransomware attacks and minimize the damage caused by these incidents.

Sources

• Ransomware Tracker 2024: Recent Ransomware Attacks - Spin.AI
• A Comprehensive List of Top Ransomware Attacks in 2023
• Ransomware Attacks | Mason Hayes Curran
• The Devastating Impact of Ransomware Attacks on Small Companies and Individuals