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Cyberattack by a ransomware organization targets Christie’s | #ransomware | #cybercrime


Cyberattack by a ransomware organization targets Christie’s

Reports state that a hacking collective known as RansomHub has taken credit for the cyberattack that rendered Christie’s website unusable a few days prior to the company’s major spring sales in the United States.

A hacking collective known as RansomHub has taken credit for the cyberattack that rendered Christie’s website unusable a few days prior to the company’s major spring sales in the United States. According to a post made by the collective on the dark web, the world’s wealthiest art collectors’ private data was retrieved by them; it was stated that they will make the material public by the end of May.

Although instances of names and birthdays were uploaded by the hackers, it was not immediately apparent if they had gained access to customer addresses, financial information, or other more private data. A few days prior to its scheduled $640 million art auction, Christie’s labeled the incident as a “technology security issue” and pulled the auction house offline.

The famous auction house was able to set up a new website for live auctions, but the gateway was crippled for the duration of the crucial sales week. According to Christie’s representative, investigations revealed that “parts of” the business’s network had been compromised in terms of security and that the perpetrators had removed “some limited amount” of customers’ personal information.

“There is no evidence that any financial or transactional records were compromised,” he stated. According to the source, the hackers claimed in their dark web post that Christie’s had stopped communicating and failed to pay a ransom while they tried to reach a “reasonable resolution” with the auction house.

The Ransom Hub post purportedly stated, “It is obvious that if this information is posted, they will incur heavy fines from GDPR as well as ruin their reputation with their clients.” Companies are required by the General Data Protection Regulation of the European Union to report cyberattacks that may have compromised sensitive customer data. Penalties for infractions might exceed $20 million.

Also readUnveiling the Ethical Imperatives: Navigating the Intersection of AI and Cybersecurity

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