Cybercrime: What Happens in Vegas…
September 18, 2023 – Published on Politico
If Las Vegas had a line to bet on whether the largest hotel chain on the Strip would be getting hacked and held hostage, then last week bettors the world over would’ve hit the jackpot. But whether it would be able to pay out is a different story.
MGM and Caesars were both hacked, but they took different approaches to the ransom demands. Caesars reportedly paid hackers $15 million for its intel back, while MGM refused to pay.
MGM Grand fell victim to a social engineering campaign, a type of cyberattack that manipulates people into divulging confidential information.
“There is likely much more to this intrusion than meets the eye,” said Drew Schmitt, practice lead at GuidePoint Security. “If it wasn’t for this social engineering attempt, it could have been another that relied on more technical means.”