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In a recent cyberattack incident, Indian shoe manufacturing company Sara Suole Pvt Ltd has become the latest victim of the notorious LockBit ransomware group. The cybercriminals targeted the company’s digital infrastructure, compromising its systems and demanding a hefty ransom for releasing encrypted data.
According to our security experts’ investigations, the exact amount of data stolen from Sara Suole has not been disclosed. However, it has been revealed that the compromised data includes sensitive company information such as bank statements, balance sheets, report invoices, and agreements.
The LockBit gang, responsible for the ransomware attack, confirmed the breach against Sara Suole by publishing a post on their leak site, providing details about the stolen data.
The cybercriminals issued an ultimatum to Sara Suole, granting them until June 26, 2023, to cooperate and meet their demands. Failure to comply would result in the public exposure of the stolen data. Unfortunately, the company could not meet the hackers’ demands or take necessary countermeasures, as the stolen data has now been leaked to the public domain.
The leaked data threatens the Indian shoe manufacturer, potentially damaging its reputation and compromising its customers’ and business partners’ privacy and confidentiality. With bank statements and financial records now freely available, there is a heightened risk of financial fraud and identity theft for those whose information has been exposed.
Sara Suole has not officially confirmed the alleged cyberattack reported by the LockBit ransomware gang. Our team’s research reveals that the company’s website remains operational, indicating that there may be no immediate disruption to its online presence. However, further analysis is required to determine the extent of potential data compromise to the affected company.
The incident displays the rising sophistication of ransomware attacks propagating in the wild. Organisations across India are urged to strengthen their defences, ensuring the implementation of comprehensive security protocols, regular data backups, and employee training programs to lessen the risk of falling victim to similar cyber threats.
