Safex Inc Faces Ransomware Threat from SafePay Group
Ransomware Attack on Safex, Inc. by SafePay
On November 21, Safex, Inc., a consulting firm specializing in occupational health and safety, became the latest victim of a ransomware attack by the cybercriminal group SafePay. Based in Westerville, Ohio, Safex is known for its comprehensive services in environmental health, safety consulting, and industrial hygiene assessments. The company employs between 11 to 50 professionals, including certified safety experts and industrial hygienists, and generates approximately $5.4 million in revenue annually.
Safex's reputation in the industry is built on its tailored solutions and commitment to regulatory compliance, serving diverse sectors such as food manufacturing and renewable energy. However, this attack highlights vulnerabilities that even well-established firms face in the evolving cyber threat landscape.
Attack Overview
The SafePay ransomware group executed a double-extortion attack on Safex, resulting in the encryption of critical files and the theft of 70GB of sensitive data. SafePay is known for its use of ransomware-as-a-service (RaaS) tactics, leveraging LockBit source code to carry out its operations.
In this instance, SafePay's attack on Safex underscores the importance of cybersecurity measures, particularly for companies handling sensitive compliance-related data. The stolen data could potentially include confidential client information and proprietary safety protocols, posing significant risks to both Safex and its clients.
SafePay Ransomware Group
SafePay distinguishes itself in the cybercrime landscape through its strategic use of double-extortion tactics, which involve encrypting files and threatening to release stolen data if ransom demands are not met. This method increases pressure on victims to comply, as the potential public exposure of sensitive data can have severe reputational and financial consequences.
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