The Red Ransomware gang has taken credit for a recent cyberattack on Targus International, a prominent retailer of computer accessories. The attack, which occurred in early April, targeted Targus’ file systems, prompting the company to shut down its systems to contain the breach.
Targus, known for its laptop and tablet cases, backpacks, docking stations, and accessories, operates globally with offices in over 24 locations and distribution in more than 100 countries. The attack, claimed by the Red Ransomware group, was announced on the group’s dark leak site, where they posted a red “Coming Soon” banner below Targus’ name.
Targus’ parent company, B. Riley Financial, disclosed the breach in an 8K filing with the US Securities and Exchange Commission on April 8th. The Los Angeles-based firm, which acquired Targus in 2022, stated that they discovered the unauthorized access on April 5th and immediately shut down Targus’ systems to mitigate further damage.
While the shutdown temporarily disrupted business operations, B. Riley reported that outside experts were working to restore the compromised systems. The extent of the data compromised and the duration of the threat actor’s presence in Targus’ network remain undisclosed.
Established in 1983 and headquartered in Anaheim, California, Targus is renowned for its innovative products, generating approximately $415 million in revenue annually. The company has received multiple CES awards for its innovative designs and serves 90% of the Fortune 1000 companies.
Despite the cyberattack, B. Riley Financial expressed confidence that the incident would not materially impact profits. The company reassured investors that its other subsidiaries were operating normally without any interruptions.
In conclusion, the cyberattack on Targus International highlights the ongoing threat of ransomware attacks against businesses. As companies increasingly rely on digital infrastructure, cybersecurity remains a critical concern for protecting sensitive data and maintaining business continuity.
