Ransomware alert: E-Land Group operations affected by ransomware

New Delhi (Anish Yande): Ransomware has been a prominent concern for organizations. In the pandemic, operations online have become crucial for organizations. Confidential files of the company are compromised through a ransomware attack. E-Land, South Korean retail, and fashion apparel company has become the latest company to be affected by Ransomware.

E-Land Group Discloses Details of Cyberattack:

E-Land Group is a prominent company in South Korea. The Group is connected to several businesses. The Group has extended its operations in theme parks, hotels, malls, construction, and restaurants. 

The retail and fashion apparel company has stated publicly that its digital systems suffered an attack on November 22. The cyberattack affected 23 branches of the E-Land Group. The Group has over 50 operation units in several cities. Over 46% of the Group's operations were reportedly affected. The 23 affected branches of the company were shut down following the cyberattack.

E-Land stated that its operations were widely affected by the ransomware attack. The company has sought the help of local authorities and cybersecurity experts to commence an investigation into the attack. 

Response to Ransomware:

The Group currently has no plans as of now to pay the ransom to the cyberattackers. The company has approached the authorities seeking a quick resolution to the halt in their business. The potential data breach of its customers is a troubling possibility for the Group.  

Cyberattacks through phishing, malware, or ransomware have been occurring frequently in 2020. Medical companies and hospitals have been targeted in cyberattacks, including vaccine development organizations. Earlier this month, eResearchTechnology, a center for the development of Covid-19 vaccines were also affected. Capcom, the Japanese gaming company, was also affected by a ransomware attack.

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