MGM Resorts ransomware resulted in data theft & $100 million loss

According to MGM Resorts, the organization lost $100 million due to the incident that occurred last month, during which hackers were able to get sensitive client data.

On September 11, 2023, the massive hotel and entertainment company revealed a cybersecurity breach that affected its primary website, online reservation platforms, and in-casino amenities including ATMs, credit card terminals, and slot machines

A few days later, it was discovered that Scattered Spider, an affiliate of the BlackCat/ALPHV ransomware group, was the threat actor behind the interruption. Through social engineering, these hackers gained access to MGM’s network, stole confidential information, and encrypted more than 100 ESXi hypervisors. Because the intrusion affected a wide spectrum of its company activities, the prolonged IT system outage had a significant effect. “[MGM] estimates a negative impact from the cyber security issue in September of approximately $100 million to Adjusted Property EBITDAR for the Las Vegas Strip Resorts and Regional Operations, collectively,” according to a FORM 8-K filed with the Securities and Exchange

(Score: 23) - 4.8/5