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Restoring critical data in three days following a cyberattack

Restoring critical data in three days following a cyberattack

The Challenge

In Q3 of 2024, the CEO of a UK-based bank received an email from a ransomware group, informing him that the bank's data had been encrypted and would be released on the dark web unless a ransom demand was paid. Although several insurers and consultants were engaged to resolve the situation, the slow response times made it clear that an alternative approach would be needed.

Finally, in order to minimise the resulting downtime and resume operations as soon as possible, without giving in to the criminals' ransom demand, the organisation engaged Exponential-e to restore and secure their critical servers. With even the shortest period of downtime resulting in serious financial and reputational damage, a team of incident response specialists immediately began the restoration process, aiming to have the bank's systems back online in days rather than weeks.

The Solution

The restoration process began with a thorough audit of the IT ecosystem to establish which servers had been impacted, after which the affected VMs were powered down. A new, fully isolated VDC was created to store these VMs once they were recovered, along with a completely new firewall zone.

With the affected servers restored into this new VDC zone, firewalls were established to allow for the most basic access, after which malware scans were conducted. These scans continued for two days, during which the customer was granted initial access to the servers via a temporary SSL VPN with Azure MFA, allowing them to resume operations in just three days.

At this point, Zerto replication was set up for the new VMs, while Exponential-e simultaneously engaged with the third party that was conducting a forensic investigation. 

Connectivity was soon re-established for the customer's other offices, at which point users were brought back online. Firewall logs were provided for the forensic team, along with initial access to VM images via vCloud Director.

Finally, a test rebuild of the affected VMs was conducted and finalised within two days, and additional firewall policies established.

Exponential-e has repeated variations of this process for multiple other organisations affected by ransomware attacks, allowing them to resume operations as quickly as possible and ensure their critical infrastructure is secured against future attacks. 

The Result

Ongoing communication between all parties involved ,including a dedicated team of incident response specialists at Exponential-e with a defined action plan ensured a seamless restoration process. Day-to-day operations resumed in just seven days, without paying the criminals' ransom demand.

Don't wait for a crisis to expose the cracks, fortify your defences today. Discover how expert response turned seven days of chaos into operational recovery.

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To Test or Not to Test?When it comes to IT disaster recovery and remediation processes, regular testing is not a 'nice to have' - it's absolutely essential!

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In October 2023, the British Library suffered "one of the worst cyber incidents in British history," as described by Ciaran Martin, ex-CEO of the National Cyber Security Centre (NCSC). 

The notorious Rhysida ransomware gang broke into one of the world's greatest research libraries, encrypting or destroying much of its data, and exfiltrating 600 GB of files, including personal information of British Library staff and users.

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Digitising the high street, part two: How?

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In part one of this two part blog series, we looked at why "bricks-and-mortar" retailers are embracing Digital Transformation in order to compete with the new breed of online retail giants.

In part two, we look at the specific challenges Digital Transformation is throwing up for the high street, and how these challenges can be addressed.

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After several years of serious global upheaval, it is clear that resilience, agility, and the ability to adapt to the unexpected are critical priorities for all organisations – regardless of size or sector. However, this accelerated pace of change has, in many cases, revealed the limitations of existing IT services. With an increasing emphasis on on-demand services and a highly fluid workforce, legacy services and their systems often struggle to support new propositions and customers' evolving needs, which will – in turn – make maintaining a competitive advantage difficult, if not near impossible.

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As the Financial Services (FS) industry continues to adopt and leverage digital technologies to innovate and deliver customer-centric outcomes, there is also a major focus on inward change, on improving employee experience through streamlining, simplifying and consolidating platforms, infrastructure and processes. Of course, Digital Transformation comes with an abundance of risks. Some of these are already widely recognised and covered by the mainstream media, some are newly emerging, and others are as yet unknown.

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Cyber crime: ransomware attacks

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 Ransomware is malware that encrypts an individual's files so that they no longer have access to them, and subsequently demand payment for the files to be released. Usually the payment is asked to be made in an untraceable cryptocurrency form, such as Bitcoin. The most common way ransomware ends up on an individual's computers is through email spam, which individuals will click on and open.

Unfortunately, the files cannot be decrypted without a mathematical key which is only known by the cyber attacker, and the reason why many individuals tend to pay up. However, many find that despite paying the ransom, their files remain encrypted.

When looking at which countries were affected by ransomware attacks the most, the UK was found to have the highest percentage out of Europe:

  Figure 1: Cybercrime Tactics and Techniques: Ransomware Retrospective Report, Malwarebytes

Despite the NHS facing one of the worst ransomware attacks in May 2017 - the WannaCry ransomware attack - which cost the NHS £92m and caused more than 19,000 appointments to be cancelled (The Department of Health), this chart clearly highlights how organisations in the UK still need to invest more into their Cyber Security solutions to stay protected from ransomware attacks.

At Exponential-e, we help organisations that have been affected by ransomware attacks. Our Head of Cyber Consultancy, Mark Belgrove, discusses a real-life cyber attack in the video below, and shares how Exponential-ehelped mediate the situation. 

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Phishing: attacks and prevention

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Phishing is the fraudulent use of electronic communications to try and obtain sensitive information, such as usernames, passwords and credit card details by posing as a legitimate institution. Phishing attacks attempt to get individuals to click on a malicious link and enter confidential information to steal their identity, funds or to be the first step in a serious cyberattack against an organisation.

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