Synnex Defends Its Role In Friday Cybersecurity Attacks - TD Synnex (NYSE:SNX)

Synnex Corp (NYSE:SNX) confirmed that it was aware of specific instances where outside actors attempted to gain access through SYNNEX to customer applications within the Microsoft Corp (NASDAQ:MSFT) cloud environment.
SYNNEX defended that it was not a Managed Service Provider (MSP), as the media reported.
REvil, the group blamed for the ransomware attack of meatpacking firm JBS SA, was held responsible for hacks on at least 20 managed-service providers, which provided IT services to small- and medium-sized businesses.
Friday’s attack appeared to combine a supply-chain attack with ransomware, massively increasing the number of potential victims and, likely, the payout.
Kaseya Ltd, a software developer for managed service providers, was amongst the target to attack its customers, cybersecurity experts stated. Kaseya handled large enterprises and small businesses globally and could spread to any size or scale business, a cybersecurity expert said. Attacking MSPs was a particularly tricky method of hacking, as it might allow the attackers to intrude on their customers.
In Sweden, most grocery chain Coop’s over 800 stores couldn’t open on Saturday after the attack that led to a malfunction of their cash registers.
There were victims in 17 countries so far, including the U.K., South Africa, Canada, Argentina, Mexico, and Spain, a cybersecurity firm stated.
Two of the affected MSPs included Synnex and Avtex LLC.
Republican National Committee was alerted by Microsoft that its vendor Synnex may have been affected. However, there was no indication of hacked or stolen information.
SYNNEX, Microsoft, and a third-party cybersecurity firm have been jointly conducting a thorough review of the attack since identified.
SYNNEX’s internal and external environments remained online throughout the attack.
Price action: SNX shares traded lower by 3.23% at $116.97 on the last check Tuesday.

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