Ransomware Fallout: Seven Reasons Why Trustworthy MSPs are Essential in Today’s Cyber Landscape

ALPHV/BlackCat Receives $22 Million in Bitcoin Amid Change Healthcare Ransomware Attack

The cybercriminal gang ALPHV, also known as BlackCat, received over $22 million in Bitcoin. It is believed to be a ransom payment, following a ransomware attack on Change Healthcare. Change Healthcare provides IT services to numerous American pharmacies and hospitals. The Change Healthcare ransomware attack disrupted services across thousands of locations.

It’s suspected that ALPHV stole the ransom payment from its own affiliate crew responsible for the initial ransomware attack. The affiliates claim to still hold sensitive data obtained from Change Healthcare and its partners. This raised concerns about potential data leaks.

Despite the ransom payment, ALPHV suspended the affiliate’s account and allegedly took all the money. Affiliates warned against dealing with ALPHV. The incident underscores the importance of robust cybersecurity measures, including the involvement of trusted managed service providers (MSPs).

7 Reasons to have a Trusted MSP (managed service provider) like Merit Technologies:

Expertise: MSPs have specialized knowledge and experience in cybersecurity, offering better protection against ransomware attacks and other threats.

Proactive Monitoring: MSPs can continuously monitor networks and systems for vulnerabilities and suspicious activities. This enables early detection and mitigation of threats.

Rapid Response: Trusted MSPs can provide prompt response and recovery services in the event of a cyberattack. This minimizes downtime and mitigates damage.

Regular Updates and Patch Management: MSPs ensure that systems and software update with the latest security patches. Additionally, MSPs can reduce the risk of exploitation by cybercriminals.

Compliance and Regulations: MSPs can help organizations adhere to industry regulations and compliance standards related to data security, mitigating legal and financial risks.

Cost-Effectiveness: Outsourcing IT management to an MSP can be cost-effective in comparison to maintaining an in-house IT team, especially for smaller organizations with limited resources.

Focus on Core Business: By delegating IT management to a trusted MSP, organizations can focus on their core business activities without worrying about IT infrastructure and security concerns.

Contact us today to speak to one of our cybersecurity experts.

Source Material:

Change Healthcare extortionists ALPHV get $22M in Bitcoin • The Register

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