Could the MGM ransomware attack happen to my company?

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Could the MGM ransomware attack happen to my company?
Yiğit Çallı
Yiğit Çallı
19 September 2023

What happened: As reported by MGM Resorts and Caesars Entertainment, a ransomware attack took place against their networks and databases. They have submitted disclosures to the Security and Exchange Commission (SEC) following the ransomware attacks on their casino enterprises. It is rumored that after the breach, MGM Resorts had to shut down some parts of its internal networks, leading to problems in electronic winnings transfers and malfunction of access cards of hotel rooms. 

The claim is that the bad actors found information on an MGM employee on Linkedin and impersonated the person when calling MGM’s IT help desk. By pretending to be the MGM employee, they were able to obtain credentials that gave them access to MGM’s network, making it possible to infect the system with ransomware. The truth is the MGM hack is not unique, and ransomware attacks happen to companies of all sizes and across all industries. 

How can I protect myself against ransomware attacks like the MGM cyberattack?
The truth is, hackers are sophisticated and creative and it’s often a matter of time before an attack happens to your organization. Here are the two most important steps you can take to protect your organization and its data.

Replace your VPN with a Zero Trust solution: VPNs are subject to credential theft because they tend to give broad access to your network in one swift move. Instead of using VPNs to connect to your company data, adopt a Zero Trust Network Access solution like Timus Networks to access data and apps remotely. Timus uses identity-based verification to make sure the user is who they say they are. The Timus Connect Agent uses various behavior and context checks, adaptive multifactor-authentication, and blocks anyone that appears suspicious even if the login credentials check out. 

Augment your hardware-based firewall with an adaptive cloud firewall: Hardware firewalls were built for a time where data lived inside the walls of the office. Today, apps and data are everywhere, as are the people accessing them. Hardware-based firewalls were not built for the cloud era. Cloud firewalls, like the Timus Adaptive Cloud Firewall, protect company networks and data, no matter where the data lives. What’s more, users don’t get broad access to the network, but only to the areas they need access to stay productive. Timus continuously scans, checks, and prevents malware and intrusions.  

Timus is the network security solution for the cloud era. 

Timus Networks helps companies orchestrate secure access while protecting the network against cyberattacks. 

Timus combines secure, zero-trust network access with an intelligent cloud firewall that adapts in real time. 

Get started in just 15 minutes at timusnetworks.com