NetCompany Targeted by Ransomware Group Midas

NetCompany, a Danish software company, has been targeted by the ransomware group Midas. The attack was announced on the group's dark web leak site. NetCompany operates in the Software sector and is known for its services in telecommunications, including SMS messaging and online payments.

Company Profile

NetCompany is a Danish company that provides telecommunications services, including SMS messaging and online payments. They operate at a national level, offering a variety of products and services such as mobile recharges, mobile packaging, sports betting, SOAT sales, and certificate sales. The company has a strong presence in the telecommunications industry and has been subjected to a data theft case involving source code and user manuals, which has been described in several media outlets.

Vulnerabilities and Mitigation

The ransomware attack on NetCompany is a significant event in the cybersecurity landscape. The company has been targeted by Midas, a ransomware group known for its attacks on various industries, including IT, manufacturing, apparel and fashion, and automobile. The attackers have used remote code execution vulnerabilities, such as CVE-2019-1069 and CVE-2020-0618, to gain access to the victim's systems.

To mitigate the risks of ransomware attacks, companies should implement robust security measures, such as regular software updates, strong passwords, and employee training on cybersecurity best practices. Additionally, companies should have a disaster recovery plan in place to minimize the impact of an attack and ensure business continuity.

The ransomware attack on NetCompany is a reminder of the importance of cybersecurity in the digital age. Companies must remain vigilant and implement robust security measures to protect against cyber threats. The incident also highlights the need for ongoing collaboration between companies, authorities, and cybersecurity experts to counteract the evolving tactics of threat actors.

Sources

• Trend Micro - https://www.trendmicro.com
• Nasdaq - https://www.nasdaq.com