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

• 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.

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