Lumen Faces 2 Ransomware Attacks, Working With Experts To Evaluate And Minimize Impact

Anusuya Lahiri

March 27, 2023 at 1:39 PM·1 min read

On March 27, 2023, Lumen Technologies, Inc (NYSE: LUMN) reported it faced two cybersecurity incidents.
Last week Lumen discovered that a malicious intruder had inserted criminal ransomware into a limited number of its servers that support a segmented hosting service, degrading the operations of a small number of its enterprise customers.
Lumen's recent implementation of enhanced security software has led to its discovery that a separate sophisticated intruder accessed a limited number of its internal information technology systems.
Also Read: Microsoft Cautions Against More Russia Led Ransomware Attack
Lumen does not believe the incidents will likely adversely impact its ability to serve its customers or its business, operations, or financial results per its investigation.
Lumen is working with outside forensic firms to contain the incidents and implementing business continuity plans to restore functionality to its customers' operational and business systems.
Lumen also notified law enforcement and regulatory authorities, impacted customers, launched investigations, and took additional steps to safeguard its systems.
Lumen is working with several external advisors, impacted customers, and relevant authorities to assess and mitigate the impacts of the ransomware incidents.
Price Action: LUMN shares traded higher by 2.90% at $2.48 on the last check Monday.