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Nueva Codere’s subsidiary suffers a $805,000 loss as a result of a cyberattack

Nueva Codere's subsidiary suffers a 5,000 loss as a result of a cyberattack

The Spanish gaming company, Nueva Codere, has been hit by a cyberattack that has caused one of its subsidiaries to lose over $805,000. The subsidiary, Codere Online, which operates in Mexico, suffered the attack on March 18, 2021. This is a significant blow to the company, as it is still recovering from the effects of the COVID-19 pandemic.

The Attack

The cyberattack was a ransomware attack, which is a type of attack where the attacker encrypts the victim’s files and demands a ransom to release them. The attackers demanded a ransom of 565 bitcoins, which is equivalent to approximately $30 million. However, Codere Online did not pay the ransom, and the attackers leaked sensitive information about the company online.

The Loss

Codere Online has reported a loss of $805,000 due to the cyberattack. This loss includes the cost of repairing the damage caused by the attack as well as the cost of lost revenue. The company has also reported that it has suffered a loss of customer trust, which will have a long-term impact on its business.

The Response

Codere Online has reported the attack to the relevant authorities and has hired a cybersecurity firm to investigate the incident. The company has also assured its customers that their personal information was not compromised in the attack. Codere Online has stated that it has implemented additional security measures to prevent similar attacks from occurring in the future.

Lessons Learned

The cyberattack on Codere Online serves as a reminder of the importance of cybersecurity. Companies must ensure that they have adequate security measures in place to protect their data and systems from cyber threats. This includes regularly updating their security systems, training employees on how to detect and prevent cyber attacks, and conducting regular vulnerability assessments.

It is also important for companies to have a response plan in place in the event of a cyberattack. This plan should include steps to contain the attack, identify the source of the attack, and minimise the damage caused by the attack. Companies should also have a communication plan in place to notify customers and other stakeholders of the attack and the steps taken to mitigate the damage.

In conclusion, the cyberattack on Codere Online is a reminder of the ever-present threat of cybercrime. Companies must take steps to protect their data and systems from cyber threats and have a response plan in place in the event of an attack. With the right measures in place, companies can reduce the risk of cyberattacks and minimise the damage caused by such attacks.

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