Ransomware Attack on Compagnie de Phalsbourg by 3AM Group

Company Profile

Compagnie de Phalsbourg is a prominent real estate development, investment, and management company based in Paris, France. Founded in 1989 by Philippe Journo, the company has been influential in the French real estate market, focusing on large projects and refurbishment of existing retail zones. With a workforce of approximately 139 employees and a reported revenue of $32 million, Compagnie de Phalsbourg stands out due to its unique social vision and significant involvement in sponsorship actions within France.

Details of the Attack

The 3AM ransomware group, a relatively new player in the cyber threat landscape, has claimed responsibility for an attack on Compagnie de Phalsbourg. This group, which emerged in September 2023, has been noted for its use of the Rust programming language in its ransomware, which includes capabilities such as stopping services, deleting Volume Shadow copies, and selective file encryption.

Vulnerabilities and Industry Impact

Real estate companies like Compagnie de Phalsbourg often manage extensive amounts of sensitive data, including personal information of clients and detailed financial records, making them attractive targets for ransomware attacks. The industry's increasing reliance on digital technologies for property management and transactions further exposes them to cyber threats. The attack emphasizes the critical need for robust cybersecurity measures in the real estate sector.

Sources

• PitchBook Company Profile - PitchBook Company Profile
• COMPAGNIE DE PHALSBOURG Company Profile on Dun & Bradstreet - Dun & Bradstreet
• 3AM Ransomware Analysis - Security Affairs