Las Vegas, the city of lights whose extravagant night life and gambling industry have been world-famous for years, recently experienced a huge blow due to a targeted cyber attack against MGM Resorts International. All the establishments and businesses owned by MGM, including hotels, slot machines, and banking operations, were affected by the attack, forcing the company to resort to manual labor in order to keep its operations afloat.
The breach was initially detected on Sunday, September 10th, with the FBI warning of an increase in threats against both physical and online casinos in the month before. According to reports, the hackers used ransomware to encrypt MGM’s systems and data and demanded a ransom to be paid in exchange for restoring normality.
MGM Resorts International responded with an investigation, enlisting the aid of external cybersecurity experts along with federal authorities to find the perpetrator. On Monday, September 10th, shares of MGM Resorts International plummeted by 2.4 percent, the expected result of the cyber attack. At the moment, however, little is known about the perpetrator or the exact details of the attack.
The incident highlights the risks businesses face in an ever more connected world, regardless of their size. It also serves as a warning to other businesses to take cybersecurity more seriously or face the consequences.
