Incident Score: Analysis & Impact (VEE1770473427)
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Rankiteo Score Impact Analysis
Key Highlights From The Incident Analysis
- Timeline of Veeam Software'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 Veeam Software 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 Veeam Software breach identified under incident ID VEE1770473427.
The analysis begins with a detailed overview of Veeam Software's information like the linkedin page: https://www.linkedin.com/company/veeam-software, the number of followers: 441236, the industry type: Software Development and the number of employees: 6673 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 740 and after the incident was 641 with a difference of -99 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 Veeam Software and their customers.
A newly reported cybersecurity incident, "Ransomware Attacks on Organizations in 2023", has drawn attention.
A staggering 75% of organizations experienced at least one ransomware attack in 2023, with 26% hit four or more times.
Impact assessments are still underway, so the full scope is not yet clear.
Formal response steps have not been shared publicly yet.
The case underscores how teams are taking away lessons such as Ransomware is an inevitability for most businesses, and organizations must prepare for both malicious and non-malicious risks like hardware failures and accidental data loss, and recommending next steps like Implement comprehensive disaster recovery strategies beyond cybersecurity alone.
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 Exploit Public-Facing Application (T1190) with moderate confidence (50%), supported by evidence indicating cyber-attacks were the leading cause of IT outages (40% of disruptions) and Supply Chain Compromise (T1195) with lower confidence (30%), supported by evidence indicating growing sophistication of ransomware campaigns. Under the Execution tactic, the analysis identified User Execution: Malicious File (T1204.002) with moderate to high confidence (70%), supported by evidence indicating 75% of organizations experienced at least one ransomware attack. Under the Persistence tactic, the analysis identified BITS Jobs (T1197) with lower confidence (40%), supported by evidence indicating some attacks going undetected for up to 200 days before activation and Scheduled Task/Job (T1053) with lower confidence (40%), supported by evidence indicating attacks going undetected for up to 200 days before activation. Under the Impact tactic, the analysis identified Data Encrypted for Impact (T1486) with high confidence (90%), supported by evidence indicating data encryption such as Yes (ransomware-related) and Inhibit System Recovery (T1490) with moderate to high confidence (70%), supported by evidence indicating 18% of the most damaging incidents (IT outages). Under the Defense Evasion tactic, the analysis identified Obfuscated Files or Information (T1027) with moderate confidence (60%), supported by evidence indicating attacks going undetected for up to 200 days before activation and Hidden Window (T1564.003) with moderate confidence (50%), supported by evidence indicating some attacks going undetected for up to 200 days. Under the Exfiltration tactic, the analysis identified Exfiltration Over C2 Channel (T1041) with moderate confidence (50%), supported by evidence indicating growing sophistication of ransomware campaigns. These correlations help security teams understand the attack chain and develop appropriate defensive measures based on the observed tactics and techniques.
Sources & References
- Veeam Software Rankiteo Cyber Incident Details: https://www.rankiteo.com/company/veeam-software/incident/VEE1770473427
- Veeam Software CyberSecurity Rating page: https://www.rankiteo.com/company/veeam-software
- Veeam Software Rankiteo Cyber Incident Blog Article: https://blog.rankiteo.com/vee1770473427-veeam-ransomware-january-2023/
- Veeam Software CyberSecurity Score History: https://www.rankiteo.com/company/veeam-software/history
- Veeam Software CyberSecurity Incident Source: https://www.infosecurity-magazine.com/news/75-orgs-ransomware-2023-1/
- Rankiteo A.I CyberSecurity Rating methodology: https://www.rankiteo.com/Images/rankiteo_algo.pdf
- Rankiteo TPRM Scoring methodology: https://static.rankiteo.com/model/rankiteo_tprm_methodology.pdf