Ever since the pandemic started, the internet has being thronged with ransomware attacks targeting organizations across countries. With many workforces going remote, successful malware attacks have increased exponentially. On June 12, Canada-based managed service provider (MSP) Pivot Technology Solutions fell victim to a ransomware attack that exposed sensitive information to hackers.

After analyzing the incident, the company has confirmed the attack and mentioned some sensitive information may have been compromised. The company has already notified its subsidiaries and other affected parties of the incident. As per Pivot Technology's press release, the attackers were not able to complete the attack, but did spend some time on their network and managed to get away with sensitive information like payroll data, bank account numbers, Social Security numbers, and more.

"I'm pleased to see the Pivot security team's response to the encryption attack. The team's quick action allowed us to continue with normal business operations."- Kevin Shank, CEO and president, Pivot Technology Solutions

Shank mentioned that Pivot Technology Solutions is employing additional security measures to secure its network from future threats. The company has also circulated a breach notification letter to affected parties. It's also important to mention that Pivot is offering its services to government entities, private organizations, schools, and colleges, some of which are Fortune 1000 companies.

The method of the attack is yet to be investigated and revealed; however, it's speculated that the attack was some form of ransomware. Ransomware attacks have proven lethal to MSPs, as a breach in their network would provide access to a bank of sensitive information belonging to diverse clients.A few recent examples of ransomware attacks on MSPs are the attacks on Synoptek in February and on Everis in November.

Considering that most MSPs leverage a remote monitoring and management (RMM) tool for their routine services, they are the hot spots for cyber criminals. Any unpatched RMM solution can be an easy gateway for ransomware attacks and data breaches.

It is pivotal to keep your devices, applications, firmware, and your RMM tool updated to stay secured against ransomware attacks. With the right RMM tool, these security complications can be managed and taken care effortlessly. If you're an MSP looking for a RMM tool for your operations, try out Endpoint Central MSP.