Rankiteo Logo
Rankiteo
Leader in Cyber Underwriting
Loading...
NEWRankiteo Cyber Underwriting Desktop - Score, price, and bind from your desktop
WindowsmacOSLinux
Download
Analyze » COAXIS » COA1773304197

Incident Score: Analysis & Impact (COA1773304197)

The details regarding individual company incidents & reports gives you full view from every side.

Rankiteo Score Impact Analysis

Rankiteo Incident Impact-112
Company Score Before Incident751 / 1000
Company Score After Incident639 / 1000
Company LinkView COAXIS Profile
INCIDENT NUMBERCOA1773304197
Type of Cyber IncidentRansomware
ATTACK VECTORStolen credentials
DATA EXPOSEDCritical systems and files encrypted
INCIDENT DATE07/12/2023
STATUSOngoing (infrastructure dismantled, key arrests made)

Key Highlights From The Incident Analysis

  • Timeline of COAXIS's Ransomware and lateral movement inside company's environment.
  • Overview of affected data sets, including SSNs and PHI, and why they materially increase incident severity.
  • How Rankiteo’s incident engine converts technical details into a normalized incident score.
  • How this cyber incident impacts COAXIS Rankiteo cyber scoring and cyber rating.
  • Rankiteo’s MITRE ATT&CK correlation analysis for this incident, with associated confidence level.

Full Incident Analysis Transcript

In this Rankiteo incident briefing, we review the COAXIS breach identified under incident ID COA1773304197.

The analysis begins with a detailed overview of COAXIS's information like the linkedin page: https://www.linkedin.com/company/coaxis-asp, the number of followers: 5537, the industry type: IT Services and IT Consulting and the number of employees: 125 employees

After the initial compromise, the video explains how Rankiteo's incident engine converts technical details into a normalized incident score. The incident score before the incident was 751 and after the incident was 639 with a difference of -112 which is could be a good indicator of the severity and impact of the incident.

In the next step of the video, we will analyze in more details the incident and the impact it had on COAXIS and their customers.

On 08 December 2023, Coaxis disclosed Ransomware issues under the banner "LockBit Ransomware Attack Paralyzes 350,000 Businesses in Overnight Cyberassault".

In December 2023, the notorious ransomware group LockBit executed a devastating cyberattack targeting Coaxis, a French IT firm hosting accounting software for businesses.

The disruption is felt across the environment, affecting Accounting software, healthcare systems, enterprise networks, and exposing Critical systems and files encrypted.

In response, and began remediation that includes Rebuilt systems without paying ransom.

The case underscores how Ongoing (infrastructure dismantled, key arrests made), teams are taking away lessons such as Human vulnerabilities exploited in cybercrime; importance of resilience and law enforcement collaboration.

Finally, we try to match the incident with the MITRE ATT&CK framework to see if there is any correlation between the incident and the MITRE ATT&CK framework.

The MITRE ATT&CK framework is a knowledge base of techniques and sub-techniques that are used to describe the tactics and procedures of cyber adversaries. It is a powerful tool for understanding the threat landscape and for developing effective defense strategies.

MITRE ATT&CK® Correlation Analysis

Rankiteo's analysis has identified several MITRE ATT&CK tactics and techniques associated with this incident, each with varying levels of confidence based on available evidence. Under the Initial Access tactic, the analysis identified Valid Accounts (T1078) with high confidence (90%), supported by evidence indicating hacker infiltrated Coaxis’s network using stolen credentials from an agro-industrial client. Under the Execution tactic, the analysis identified User Execution: Malicious File (T1204.002) with moderate to high confidence (80%), supported by evidence indicating ransomware detonated a meticulously timed digital time bomb that locked thousands of files. Under the Impact tactic, the analysis identified Data Encrypted for Impact (T1486) with high confidence (100%), supported by evidence indicating encrypted critical systems within hours, crippling over 1,200 accounting firms and 350,000 enterprises. Under the Credential Access tactic, the analysis identified Steal Application Access Token (T1528) with moderate to high confidence (70%), supported by evidence indicating exploiting a seemingly innocuous link (potential OAuth abuse or credential theft). Under the Defense Evasion tactic, the analysis identified Obfuscated Files or Information (T1027) with moderate to high confidence (80%), supported by evidence indicating ransomware detonated a digital time bomb (likely obfuscated or delayed execution). Under the Lateral Movement tactic, the analysis identified Remote Services: Remote Desktop Protocol (T1021.001) with moderate confidence (60%), supported by evidence indicating stolen credentials likely used to move laterally within Coaxis’s network. These correlations help security teams understand the attack chain and develop appropriate defensive measures based on the observed tactics and techniques.

Initial Access
Valid Accounts (90%)
Execution
User Execution: Malicious File (80%)
Impact
Data Encrypted for Impact (100%)
Credential Access
Steal Application Access Token (70%)
Defense Evasion
Obfuscated Files or Information (80%)
Lateral Movement
Remote Services: Remote Desktop Protocol (60%)

Sources & References