•Days before MGM’s computer systems were taken down in a cyberattack, casino operator Caesars paid out a ransom worth $15 million to a cybercrime group that managed to infiltrate and disrupt its systems.

•Caesars does not anticipate the ransom payment or fallout will have a material effect on the company’s bottom line, according to an 8-K filing.

•Bloomberg previously reported that the same cybercrime group is behind the attacks on both companies.

Days before MGM’s
computer systems were taken down in a cyberattack, casino operator Caesars
paid out a ransom worth $15 million to a cybercrime group that managed to infiltrate and disrupt its systems, sources familiar with the matter told CNBC.

The cybercrime group has made a ransom demand to MGM as well, those sources told CNBC’s Contessa Brewer.

There have now been two highly disruptive attacks on the gaming industry in a matter of weeks. Caesars reported its incident in a U.S. Securities and Exchange Commission filing Thursday morning. The 8-K report, similar to one filed by MGM Resorts on Wednesday, acknowledges the hack as a material event.

The cybercrime group demanded a $30 million ransom from Caesars, but the company ultimately agreed to pay about half that, sources said. The costs will be partially mitigated by Caesars’ cyber insurance policies.

But Caesars does not anticipate the ransom payment or fallout will have a material effect on the company’s bottom line, according to the filing.

“Although members of the group may be less experienced and younger than many of the established multifaceted extortion and ransomware groups, they are a serious threat to large companies in the United States,” Charles Carmakal, chief technology officer at Google
Cloud’s Mandiant, told CNBC. “Many members are native English speakers and are incredibly effective social engineers.”

Bloomberg previously reported the ransom and that the same group is behind the attacks on both companies. The group, known as UNC3944 or Roasted 0ktapus, was also linked to the MGM attack by vx-underground, a widely followed cybersecurity researcher on X, formerly known as Twitter. Security researchers have connected the group to attacks on other companies, including Cloudflare, Okta and Twilio


SEC rules require that companies file reports within four days of a “material” event. It wasn’t immediately clear why Caesars delayed filing the report disclosing the hack and ransom for weeks. The SEC pushed to introduce a new cybersecurity disclosure rule earlier this year, requiring that companies file an 8-K report disclosing the nature of a cyberattack and the effect on its business. That new rule kicks in by year-end.


↪ https://www.cnbc.com/2023 .. -mgm-hack.html

No laws still for these hackers

HERMES said 🔗 •Days before MGM’s computer systems were taken down in a cyberattack, casino operator Caesars paid out a ransom worth $15 million to a cybercrime group that managed to infiltrate and disrupt its systems. •Caesars does not anticipate the ransom payment or fallout will have a material effect on the company’s bottom line, according to an 8-K filing. •Bloomberg previously reported that the same cybercrime group is behind the attacks on both companies. Days before MGM’s computer systems were taken down in a cyberattack, casino operator Caesars paid out a ransom worth $15 million to a cybercrime group that managed to infiltrate and disrupt its systems, sources familiar with the matter told CNBC. The cybercrime group has made a ransom demand to MGM as well, those sources told CNBC’s Contessa Brewer. There have now been two highly disruptive attacks on the gaming industry in a matter of weeks. Caesars reported its incident in a U.S. Securities and Exchange Commission filing Thursday morning. The 8-K report, similar to one filed by MGM Resorts on Wednesday, acknowledges the hack as a material event. The cybercrime group demanded a $30 million ransom from Caesars, but the company ultimately agreed to pay about half that, sources said. The costs will be partially mitigated by Caesars’ cyber insurance policies. But Caesars does not anticipate the ransom payment or fallout will have a material effect on the company’s bottom line, according to the filing. “Although members of the group may be less experienced and younger than many of the established multifaceted extortion and ransomware groups, they are a serious threat to large companies in the United States,” Charles Carmakal, chief technology officer at Google Cloud’s Mandiant, told CNBC. “Many members are native English speakers and are incredibly effective social engineers.” Bloomberg previously reported the ransom and that the same group is behind the attacks on both companies. The group, known as UNC3944 or Roasted 0ktapus, was also linked to the MGM attack by vx-underground, a widely followed cybersecurity researcher on X, formerly known as Twitter. Security researchers have connected the group to attacks on other companies, including Cloudflare, Okta and Twilio SEC rules require that companies file reports within four days of a “material” event. It wasn’t immediately clear why Caesars delayed filing the report disclosing the hack and ransom for weeks. The SEC pushed to introduce a new cybersecurity disclosure rule earlier this year, requiring that companies file an 8-K report disclosing the nature of a cyberattack and the effect on its business. That new rule kicks in by year-end. ↪🔗

You posting this ol a$s news 2 weeks late😒

Proofbreal said 🔗 No laws still for these hackers

If they were from brown people countries there def would be

Could of got more

Proofbreal said 🔗 No laws still for these hackers

Lmao what? Most cyber crimes are felonies.

CIA just needed a quick 15 mill
for black op projects

drug game alone ain’t cutting it no more

This happened weeks ago


And they paid the whole thing

Got 15 million off a phishing trip.

fu#k Casino, nice heist boys

Damn bruh some n1ggas just raw af behind that computer screen how did they pay them tho? Can’t it all be traced? Not like they payed them in monero lol

and they be harassing people for counting cards

Imagine paying $15M and not having it affect your bottom line

ItAlY2BkLyN said 🔗 Imagine paying $15M and not having it affect your bottom line

I mean, that's what insurance is for.

Shook down the casinos like the casinos do old folks at the tables and the machines. It takes crooks to beat crooks. The game is the game.

SCENE said 🔗 CIA just needed a quick 15 mill for black op projects drug game alone ain’t cutting it no more

Couldn't have said it better myself. I'm sure they were easy pickins.

Inside job.

SCENE said 🔗 CIA just needed a quick 15 mill for black op projects drug game alone ain’t cutting it no more

But how do they get away with it? There is always a trail or some sh1t wtf

They used LinkedIn to get somebody info then called the help desk....10 minutes later.... They had total control

ItAlY2BkLyN said 🔗 Imagine paying $15M and not having it affect your bottom line

Casino will just rig the games so nobody wins for a couple days to recoup