blackbyte attacks Apex Capital Corp
Incident Date:
August 17, 2022
Overview
Title
blackbyte attacks Apex Capital Corp
Victim
Apex Capital Corp
Attacker
Blackbyte
Location
First Reported
August 17, 2022
Apex Capital Corp. Suffers Ransomware Attack by BlackByte
Company Overview
Apex Capital Corp., a freight factoring company headquartered in Fort Worth, Texas, has been targeted by the ransomware group BlackByte. The attack, which occurred in early August 2022, resulted in a significant system outage, affecting both Apex Capital and its subsidiary, TCS Fuel.
Apex Capital Corp. specializes in providing financial services for small and medium-size trucking companies. The company has grown into one of the largest factoring companies in the U.S. since its founding nearly 27 years ago by co-founders David Baker and Dean Tetirick.
Impact of the Attack
The ransomware attack caused a major disruption in Apex Capital's services, with users reporting problems accessing the company's services portal since at least Monday. Despite the efforts to restore client access to services, the process has been slow, and there is currently no estimated time for services to be fully restored.
Vulnerabilities and Mitigation
The attack on Apex Capital Corp. highlights the need for robust cybersecurity measures to protect against ransomware attacks. Companies in the transportation sector, like Apex Capital, are particularly vulnerable due to their reliance on digital systems and the potential for sensitive data breaches.
To mitigate the risks of ransomware attacks, companies should implement multi-layered security measures, including regular software updates, employee training, and the use of reliable backup systems. Additionally, companies should be prepared to respond quickly and effectively in the event of a cyber attack, including having a well-defined incident response plan in place.
The ransomware attack on Apex Capital Corp. serves as a reminder of the importance of robust cybersecurity measures for companies in the transportation sector. Despite the challenges posed by the attack, Apex Capital remains committed to providing the best service possible to its clients.
Sources
Recent Ransomware Attacks
The Recent Ransomware Attacks (RRA) site acts as a watchtower, providing you with near real-time ransomware tracking of attacks, groups and their victims. Given threat actors’ overarching, lucrative success so far, ransomware attacks have become the most ubiquitous, and financially and informationally impactful cyber threat to businesses and organizations today.
The site’s data is generated based on hosting choices of real-world threat actors, and a handful of other trackers. While sanitization efforts have been taken, we cannot guarantee 100% accuracy of the data. Attack updates will be made as source data is reported by reputable sources. By viewing, accessing, or using RRA you acknowledge you are doing so at your own risk.