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“$100 Million Las Vegas Heist: MGM Resorts Victim of Cyberattack

StockMarketHour by StockMarketHour
October 9, 2023
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“$100 Million Las Vegas Heist: MGM Resorts Victim of Cyberattack
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A recent attack on the computer systems of MGM Resorts left the Las Vegas-based hotel and casino giant with an estimated price tag of around $100 million, the company has said. The attack, first discovered last summer, is believed to have given hackers access to key data, such as customer and employee information, Social Security numbers, and other personal information.

MGM Resorts has been working with law enforcement, as well as federal and state agencies, to address the data breach. In a statement, MGM said it has “worked diligently and collaboratively with leading cybersecurity experts to comprehensively assess and enhance the data security of our systems.” It also promised to “continue to provide customers with secure leisure and entertainment experiences.”

The attack highlights the importance of maintaining good cybersecurity defense systems, especially when dealing with large sums of customer and employee data. Even though security has been improved, customers should remain vigilant. Companies should ensure that all customer data is encrypted, that all software is up-to-date, and that access to servers and networks is strictly limited to trusted individuals. They should also consider investing in threat detection programs that can help identify and respond to threats quickly.

All companies should take steps to protect their customer and employee data, as this latest attack on MGM Resorts has shown how damaging cyberattacks can be. With the increasing sophistication of malicious hackers, it is more important than ever for companies to take cybersecurity seriously in order to avoid costly incidents such as this one.

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