Popular payment provider Ingo Money suffered a ransomware attack last week, but the consequences of the incident are still unknown.
Cyber news claims the company stumbled onto the Inc Ransom data breach site. Ingo Money is a company that provides payment services to both customers and businesses and has over a million downloads on the Google Play Store alone.
The company is silent on this matter and does not respond to media queries, so additional information is scarce, but we hope that the company will come out soon to explain how exactly the incident occurred, what type of data the attackers accessed have had and how much ransom they demand.
Data in focus
Founded in 2001, Ingo Money has ties with Goldman Sachs, Paypal, Geico, American Express and other financial giants.
Inc Ransomware, on the other hand, is a relative newcomer to the ransomware gang game, but has quickly made a name for itself, reporting successful breaches of more than 35 organizations in the last twelve months alone.
Some of the victims include Yamaha Motor Philippines, a subsidiary of the Japanese powerhouse manufacturer. About a week ago, the company reported that a threat actor had compromised one of its servers and stolen sensitive data in late October. In the meantime, Inc Ransom has added Yamaha Motor Philippines to its data breach site and claims to have collected 37 GB of data. Some of the data, media said at the time, included employee ID information, backup files, and company and sales information.
Today’s ransomware operators are focusing more on data exfiltration and less on endpoint and system encryption. While encrypting all files is highly disruptive and prevents the victim from functioning normally, stealing data is potentially more devastating as leaks can lead to fines from regulators, class action lawsuits, lost revenue and more.