Ransomware Attack on GET: A Cybersecurity Threat in the Holding Companies & Conglomerates Sector

The ransomware group Lockbit3 has claimed responsibility for an attack on GET, a holding company operating in the retail, real estate, and energy sectors. GET is a significant player in the convenience sales market and foreign exchange bureaus, with a strong presence in the real estate and energy sectors.

The attack on GET highlights the vulnerabilities of companies in the holding companies & conglomerates sector to ransomware attacks. Ransomware is a form of malware that encrypts a victim's files, demanding a ransom from the victim to restore access to the data upon payment. In the case of GET, the ransomware attack could potentially disrupt their operations, leading to financial losses and reputational damage.

To mitigate the impact of ransomware attacks, organizations should prioritize prevention, limit the attack surface, and implement robust security controls. This includes educating end-users on the dangers of ransomware, training security operations center (SOC) analysts on how to respond to ransomware incidents, and ensuring appropriate technical controls are in place.

In the context of GET, the company should focus on improving security hygiene, implementing protection, and responding to incidents to remove attacker access. This may involve strengthening security controls to prevent entry, rapidly detecting and responding to incidents, and prioritizing the prevention of ransomware attacks.

The ransomware attack on GET underscores the importance of cybersecurity in the holding companies & conglomerates sector. Companies in this sector should be vigilant against ransomware threats and take proactive measures to protect their systems and data.

Sources

• GET. (n.d.). Retail. Retrieved April 10, 2024, from http://www.get.es/.
• CSO Online. (2020, June 19). What is ransomware? How it works and how to remove it. Retrieved April 10, 2024, from https://www.csoonline.com/article/563507/what-is-ransomware-how-it-works-and-how-to-remove-it/.
• Microsoft Learn. (2022, October 12). Prepare for a ransomware attack. Retrieved April 10, 2024, from https://learn.microsoft.com/en-us/azure/security/fundamentals/ransomware-prepare.
• Check Point. (n.d.). Ransomware Attack - What is it and How Does it Work? Retrieved April 10, 2024, from https://www.checkpoint.com/cyber-hub/threat-prevention/ransomware/.
• CrowdStrike. (2023, January 30). What Is a Ransomware Attack? Retrieved April 10, 2024, from https://www.crowdstrike.com/cybersecurity-101/ransomware/.