Under Fire: Apex Business Advisory Ltd's Battle Against 8base Ransomware

Incident Date: Apr 03, 2024

Attack Overview
VICTIM
Apex Business Advisory Ltd
INDUSTRY
Business Services
LOCATION
Kenya
ATTACKER
8base
FIRST REPORTED
April 3, 2024

Apex Business Advisory Ltd Suffers Ransomware Attack

Company Overview

Apex Business Advisory Ltd, a consulting firm based in Kenya, has fallen victim to a ransomware attack by the group 8base. The company specializes in providing advisory services to private and public businesses, focusing on delivering practical and actionable recommendations for growth and value enhancement.

It provides a wide range of services across various sectors, including capital raising, advisory services, fund services, digital banking, depositary, custody, corporate services, and ESG Ratings and Advisory solutions.

Vulnerabilities

The ransomware attack on Apex Business Advisory Ltd highlights the pressing cyber threats faced by businesses, especially in sectors like business services. With over 13,000 employees globally across 112 offices, Apex is vulnerable to cyber attacks. The 8Base ransomware group, known for aggressive tactics, targets small to medium-sized enterprises, posing a significant risk to companies like Apex. Urgent action is needed to address vulnerabilities and strengthen cybersecurity measures to mitigate the risk of future attacks.

Sources

Disclaimer

The Halcyon Attacks Lookout Database is compiled using publicly available information based on the hosting choices of real-world threat actors and data from a variety of trackers. This information is provided in accordance with principles of fair use. Halcyon has made reasonable efforts to sanitize and verify the data; however, we do not guarantee the accuracy, completeness, or reliability of the information provided. Updates to the database are made as new source data becomes available from reputable sources.  By accessing, viewing, or using the information within the Halcyon Attacks Lookout Database, you acknowledge and agree to do so entirely at your own risk. No reliance should be placed upon the information for decision-making, and Halcyon disclaims all liability for any inaccuracies or omissions in the data.

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