The hacking group known as Anonymous Sudan has claimed responsibility for a cyber attack on the website of Nigerian mobile telecommunications company, MTN. The attack occurred on August 2, 2023, and caused the website to become non-functional for a period of time. Anonymous Sudan made the announcement and provided details about the attack on their Telegram channel.
According to the group, the cyber attack on MTN lasted for six hours and affected multiple services of the telecom network. This included internet, data calls, SMSes, the customer care panel, the recharge line system, internal infrastructure, the bank top-up system, balance and airtime systems, as well as the MTN app and website. The hackers claimed that the company suffered a full system outage, disrupting the connection to all systems and websites across Nigeria.
The impact of cyber attacks is becoming an expensive issue for companies worldwide. The cost to businesses is increasing rapidly due to the rising number of attacks and the associated expenses, such as ransom payments and the need for cybersecurity insurance. Many companies are now seeking cyber insurance to cover potential losses, but these policies are often complex, with numerous terms and conditions that must be thoroughly understood.
At a recent event, Nastassja van den Heever, the Group CISO at First National Bank, expressed concerns regarding cyber insurance. She stated that poorly-written policies have led to insurance companies paying out millions due to the increasing number of attacks and breaches. According to van den Heever, these insurers intentionally created loopholes to avoid payment.
Celia Mantshiyane, the CIO of MTN SA, also spoke at the event and urged organizations to carefully read the terms and conditions of their cyber insurance policies. She explained that meeting the minimum requirements is a constantly changing target, and organizations must be aware of any loopholes that could be exploited to avoid payment for incidents.
The website of MTN Nigeria is currently accessible, and The Cyber Express has reached out to the company for a statement regarding the claims made by Anonymous Sudan. This report will be updated based on their response.
The increasing number of cyber attacks highlights the need for companies to invest in robust cybersecurity measures and regularly update their systems to stay ahead of hackers. It also emphasizes the importance of organizations understanding the terms and conditions of their cyber insurance policies to ensure adequate coverage. As cyber attacks continue to evolve and become more sophisticated, businesses must remain vigilant and proactive in protecting their data and systems from potential breaches.
Please note that this article is based on internal and external research and should be used for reference purposes only. The Cyber Express assumes no liability for the accuracy or consequences of using this information.