IP Photonics Corp. was hit recently with a ransomware attack that shut down their IT systems worldwide as first reported by Bleeping Computer on Friday. The ransomware used in this attack is known as RansomExx or Ransom X. The RansomExx variant was first discovered in July 2020, and is believed to be a newer version of the Defray 777 ransomware. Included with the ransom note were instructions for the victim to send a small encrypted file that could be unencrypted as proof that the threat actors would deliver on their end of the promise when the ransom was paid. The ransom note also demands that no law enforcement be contacted. This comes as a challenge because not only does the company develop fiber lasers for cutting, welding and medical use, they also develop laser weapons for the US Department of Defense, so this means the attack could have national security implications. It is unknown right now who is behind the attack—some believe that it could be Russian state sponsored attacks, but this attack seems to be financially motivated.
Watch the Video
How does Binary Defense help protect your organization? With best in breed cybersecurity tactics, techniques, and services, we make sure that your environment is secure against the most advanced attacks.