Matrix Networks Suffers Ransomware Attack by Lockbit3

Matrix Networks, a telecommunications company specializing in connectivity, cloud phones, and network infrastructure, has been targeted by the ransomware group Lockbit3. The attack was announced on the group's dark web leak site, and the victim's website is currently under scrutiny.

Matrix Networks is renowned for its commitment to delivering exceptional client experiences through innovative solutions. Their offerings encompass managed network, cloud phone & contact center, internet connectivity, data infrastructure, and SASE endpoint security. They introduce a unique approach to connectivity as a service (MCaaS), featuring 24/7/365 support, proactive monitoring, carrier-agnostic circuit sourcing, built-in companywide redundancy, and consolidated billing.

While the company's size and industry position are not detailed on their website, their operation within the telecommunications sector marks them as part of a critical infrastructure industry. This sector is frequently targeted by ransomware groups due to the sensitive nature of the data handled and the potential for significant service disruptions.

The Lockbit3 ransomware group, active since 2021, is notorious for its aggressive tactics, often targeting large organizations and demanding substantial ransoms. This group has been implicated in several high-profile attacks, underscoring the persistent threat ransomware poses to organizations across industries.

The breach of Matrix Networks serves as a stark reminder of the critical need for robust cybersecurity measures to thwart such attacks. While specific vulnerabilities exploited in this incident remain undisclosed, common security oversights leading to ransomware compromises include application patch exploits, unsecured remote access, and weak passwords.

In the wake of the attack, Matrix Networks has yet to issue a public statement, leaving their response strategy—whether paying the ransom or engaging professional recovery services—uncertain. Despite the attack, the company's website remains accessible, though the full extent of service disruption is unknown.

Sources

• Matrix Networks. (n.d.). Retrieved April 10, 2024, from https://www.mtrx.com
• Picus Security. (2022, October 14). Top 5 Ransomware ATT&CK Techniques. Retrieved April 10, 2024, from https://www.picussecurity.com/resource/blog/top-5-ransomware-attack-techniques
• Coveware. (n.d.). Matrix Ransomware Recovery, Payment & Decryption Statistics. Retrieved April 10, 2024, from https://www.coveware.com/matrix-ransomware
• Rojas, C. E. (2023, February 15). Ransomware Control Matrix (c) - LinkedIn. Retrieved April 10, 2024, from https://www.linkedin.com/pulse/ransomware-control-matrix-c-ed-rojas