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[ iNSYNQ ] Cloud hosting provider hit by MegaCortex ransomware

iNSYNQ, a United States-based Cloud hosting provider has been hit by a massive ransomware attack crippling its cyberinfrastructure preventing customers from accessing their accounting data. It must be noted that iNSYNQ provides cloud-based QuickBooks accounting software and services.

The ransomware attack, according to iNSYNQ, took place on July 16th but the company released limited information which is being criticized by customers and IT security community. Though, since the company’s files were locked by ransomware understandably, restoring trove of data takes time. 

It was only on July 19th at 4:40 p.m. ET when iNSYNQ updated its customers with a status on its support website stating that “iNSYNQ experienced a ransomware attack on 7/16/19 perpetrated by unknown malicious attackers. The attack impacted data belonging to certain iNSYNQ clients, rendering such data inaccessible.”

“As soon as iNSYNQ discovered the attack, iNSYNQ took steps to contain it. This included turning off some servers in the iNSYNQ environment. This effort was made to protect our clients’ data and backups,” the company said.

However, in another update earlier today, iNSYNQ’s CEO Elliot Luchansky wrote that their IT networks have been hit by MegaCortex ransomware, a new type of ransomware which surfaced online in May this year.

Vitali Kremez, an IT security researcher has tweeted an in-depth analysis of MegaCortex ransomware revealing that its prime target is online businesses.

Read full Story here : https://www.hackread.com/cloud-hosting-provider-insynq-hit-by-megacortex-ransomware/