Cash switch large MoneyGram has confirmed it suffered a cyberattack after coping with system outages and buyer complaints about lack of service since Friday.
Whereas many suspected the corporate was hit by a cyberattack, it wasn’t till Monday morning that MoneyGram confirmed {that a} cybersecurity incident induced the methods outage.
“MoneyGram just lately recognized a cybersecurity concern affecting sure of our methods,” reads the announcement.
“Upon detection, we instantly launched an investigation and took protecting steps to handle it, together with proactively taking methods offline, which impacted community connectivity.”
MoneyGram is an American peer-to-peer cost and cash switch agency that permits folks to ship and obtain cash by way of an intensive community of 350,000 bodily areas in 200 nations or digitally through its cell app and web site.
It’s the world’s second largest cash switch firm, solely behind Western Union, processing over 120 million transactions yearly from tens of hundreds of thousands of customers.
The first indicators of an issue appeared on Friday, September 20, when folks reported the lack to obtain funds or entry their cash by way of the service, and the web site was unavailable.
Supply: BleepingComputer
After MoneyGram clients couldn’t switch or entry their cash, the corporate stated on Saturday that they had been experiencing a “community outage” impacting connectivity to their methods.
MoneyGram took to X on Saturday to say they had been experiencing a “community outage” impacting connectivity to their methods however didn’t share any extra particulars.
The corporate lastly confirmed on Monday {that a} cybersecurity incident was the reason for the outage, assuring clients that the agency is working diligently with exterior specialists and regulation enforcement to resolve the state of affairs.
“We acknowledge the significance and urgency of this matter to our clients and companions. We’re working diligently to deliver our methods again on-line and resume regular enterprise operations,” defined MoneyGram.
No time estimates have been given for when the methods would possibly return to regular operational standing, indicating that they’re to start with phases or remediating the assault.
Whereas MoneyGram has not shared what kind of assault they suffered, the prolonged outage and lack of connectivity to methods is indicative of a ransomware assault.
Contemplating MoneyGram’s huge buyer base, a possible knowledge breach on the corporate might have far-reaching repercussions for many individuals.
BleepingComputer has contacted the agency concerning the assault, and we are going to replace this publish as quickly as we hear again.