Malabar Gold & Diamonds, an esteemed jewelry retailer based in India, finds itself in the midst of a suspected data breach allegedly orchestrated by the notorious Snatch ransomware group. According to reports, the syndicate has claimed responsibility for infiltrating the company’s systems and extracting a significant volume of data totaling 270 GB. Established in 1993 by M. P. Ahammed, Malabar Gold & Diamonds is an Indian jewelry conglomerate headquartered in Kozhikode, Kerala, with over 330 showrooms spanning 11 countries, making it one of the globe’s premier chains of jewelry retailers. The Snatch ransomware group, known for its aggressive tactics and targeting high-profile entities, has added Malabar Gold & Diamonds to its data leak site with a detailed account of its founder and CEO.

The leaked data is said to contain sensitive information about key figures within Malabar Gold & Diamonds, including Mr. M. P. Ahammed, the esteemed chairman of the Malabar Group of Companies and founder of Malabar Gold and Diamonds. The purported information includes details about the company’s financial performance, turnover figures, and background information about its leadership. Additionally, the group disclosed information about Mr. Joseph Eapen, who oversees US operations at Malabar Gold & Diamonds.

Concerns have been raised about the potential exploitation of sensitive personal information, particularly due to the exposure of contact details and professional information belonging to Mr. Eapen. Despite these alarming developments, Malabar Gold & Diamonds has not yet issued an official statement or response regarding the alleged data breach. This lack of an official response leaves the claims surrounding the breach unverified, suggesting that the situation is ongoing.

The Snatch ransomware group’s targeting of Malabar Gold & Diamonds comes as no surprise, considering its history of attacking global companies. Both the FBI and US Cybersecurity and Infrastructure Security Agency (CISA) have previously warned about the group’s ransomware-as-a-service operation, urging organizations to remain vigilant. Snatch has been known to target various sectors, employing double extortion tactics and operating through command-and-control servers in Russia.

Currently, the situation is evolving, and further updates are awaited. The Cyber Express will continue to closely monitor the situation and provide any relevant updates or official confirmation from Malabar Gold & Diamonds. It is important for individuals to exercise caution and remain informed about the potential consequences of relying on leaked information. Overall, the severity of the situation highlights the need for robust cybersecurity measures to combat the growing threat of cyberattacks from malicious actors such as the Snatch ransomware group.

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