MSI Must Pay $4 Million Ransom to Stop a 1.5TB Data Leak
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- By Steven
- Apr 13, 2023
MSI is a huge PC parts manufacturer that's responsible for creating laptops, servers, graphics cards, motherboards, peripherals, and more. The company has an annual revenue greater than 6.5 billion USD and is known around the world for being part of the computer world. MSI was supposedly hit by a ransomware attack by a gang known as Money Message, and it's believed that the massive company lost a substantial amount of information as a result of this attack.
How Did the Attack Occur?
According to a ransomware gang known as Money Message, a gang of attackers infiltrated the MSI servers and stole more than 1.5 TB of company data. The ransomware attack occurred quickly, and the data was stored away. The gang is now giving MSI approximately 5 days to pay a ransom amount of $4 Million before it will release the company's data to the public.
What Information Was Viewed or Stolen?
The ransomware gang put up images that are supposed to serve as proof that they have software source code, BIOS firmware, private keys, and more from the hardware company. The gang wants MSI to see that it stands to lose a significant amount of revenue if the information is released publicly, and this is exactly how Money Message has built a strong case for MSI to pay its demanded ransom amount of $4 Million.
How Did Business Admit to the Breach?
MSI didn't put out any sort of statement about the data breach yet. Instead, the only evidence that there was a breach is the information posted by the gang Money Message. All the images, the message, and the posted description explain what MSI might have lost and shows the deadline and amount for the ransom. BleepingComputer has a post about this specific ransom and claims the gang states that more than 1.5TB of company data was stolen from the company's systems.
What Will Become of the Stolen Information?
According to gang Money Message, the MSI data will be released to the public if the company doesn't pay the ransom amount demanded. The data will be used by people to avoid paying for MSI services and will cause MSI a great deal of monetary loss. The company may also have some of its important technology stolen by rival companies, which would also hurt its profitability in the future. It's unclear whether MSI intends to pay the ransom amount or not, but the company is likely considering all the options and how things will go if it doesn't pay the ransom amount and so much of its confidential information is released to the public.
What Should Affected Parties Do in the Aftermath of the Breach?
It's difficult to say whether MSI should pay the ransom amount or if it should take the loss just to avoid rewarding hackers. MSI can certainly afford the ransom demand, but the company may avoid paying on principle. MSI will almost certainly lose more than $4 million from the vast amount of information stolen if it is released publicly, but the company will have to decide whether paying the ransom is worth doing or not. We don't believe that any customer data is involved in the stolen information and instead believe it's only proprietary company files that are at risk, so MSI does not have to worry about the legal implications that would come from a cyber attack involving more personal data of workers or customers.