HomeSecurity ArchitectureReal estate firm Mainstreet Equities falls victim to cyberattack

Real estate firm Mainstreet Equities falls victim to cyberattack

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Calgary-based real-estate operator Mainstreet Equities Corp. has found itself as the latest victim of a cyberattack, joining the ranks of other companies that have recently faced similar incidents. With ownership of over 17,800 housing units in multi-family complexes across western Canada, Mainstreet Equities Corp. experienced an attack on its internal systems earlier this week.

In response to the cyberattack, Mainstreet Equities Corp. released a statement on Friday assuring the public that, as of now, there is no indication that their operating platform has been affected in any way. The company also disclosed that they are currently collaborating with top third-party cybersecurity experts to investigate the incident further and to restore their internal systems in a secure manner.

As the investigation continues, Mainstreet Equities Corp. is actively working to ascertain whether any personal data has been compromised and has pledged to alert anyone impacted by the breach. The company’s CEO, Bob Dhillon, emphasized that the security and well-being of Mainstreet’s tenants, employees, and stakeholders are their utmost concern. Dhillon reiterated the commitment to transparency by promising to provide updates as new information becomes available.

With no indication that the cyberattack was ransomware-related, Mainstreet Equities Corp. joins the unfortunate company of London Drugs, a pharmacy giant that recently fell prey to cybercriminals. Following a breach of their computer systems, London Drugs faced retail operation shutdowns across western Canada for over a week. Despite a $25 million ransomware demand, the company refused to pay, resulting in the release of stolen information, including medical records and financial data.

In a separate incident last July, energy company Suncor had to replace employee computers after a cybersecurity breach that disrupted credit and debit processing at Petro-Canada gas stations nationwide. These incidents highlight the growing threat of cybercrime, with cyber criminals targeting industries ranging from healthcare to retail.

According to cybersecurity experts, adopting more stringent protections, such as multi-factor authentication that combines a code with a password, could help mitigate the risks of such attacks. As companies increasingly rely on digital systems for their operations, the need for robust cybersecurity measures has never been more critical.

As Mainstreet Equities Corp. continues to navigate the aftermath of the cyberattack, the incident serves as a stark reminder of the constant vigilance required in today’s digital landscape. With cyber threats evolving and becoming more sophisticated, companies must prioritize cybersecurity to safeguard sensitive data and protect their stakeholders.

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