Caesars ransom revealed after hack amid MGM troubles – report

Home » Caesars ransom revealed after hack amid MGM troubles – report

As MGM Resorts continues to navigate a reported cyberattack, BNN Bloomberg is reporting that Caesars paid a ransom of tens of millions of dollars following a hack into its computer systems in recent weeks.

A Russian ransomware group known as ALPHV or BlackCat is taking credit for the cyberattack that’s disrupted business at MGM’s US properties this week.

The CZR cyberattack was launched by a group known as Scattered Spider or UNC 3944, Bloomberg quoted two unnamed sources, which said hackers first breached one of CZR’s information technology vendors, then gained access to CZR’s systems.

The hackers threatened to release CZR’s data if it didn’t receive payment, Bloomberg reported.

CZR was expected to disclose details of the cyberattack imminently, Bloomberg reported, and MGM will likely do the same.

That’s because a Securities and Exchange Commission rule implemented earlier this month requires publicly traded companies to disclose cybersecurity incidents deemed to be material to a shareholder’s investment decision in a special filing.

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Fresh MGM hack claims

Meanwhile, the MGM hack was made through a phone call, according to a post on X (formerly Twitter) from the malware repository vx-underground.

The cyberattack knocked out multiple computer systems at MGM properties, including those used for room and restaurant reservations, keyless room access, company email and some slot machines.

MGM on Wednesday said the cyberattack represents a material risk to the company, CNBC reported.

The company’s websites were still down Wednesday. MGM hasn’t revealed details of its current issues and hasn’t referred to it as a cyberattack, though the FBI is probing the incident.

CZR didn’t immediately respond to Bloomberg’s request for comment.

Meanwhile, Moody’s said the incident could negatively affect MGM’s credit rating because it highlighted key risks within the company.

Source: Fantini’s Gaming Report

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