April 19, 2024 at 08:04AM
Telecom giant Frontier Communications reported to the SEC a cyberattack resulting in certain system shutdowns. The incident was identified on April 14, with unauthorized access gained by a cybercrime group. Frontier initiated response protocols, contained the incident, restored its IT environment, and notified law enforcement. It’s believed that the attack won’t materially impact the company.
Meeting Takeaways:
– Frontier Communications experienced a cyberattack which resulted in the shutdown of certain systems. The incident was identified on April 14, and the company believes it was the work of a cybercrime group that gained unauthorized access to its information technology environment, including personally identifiable information.
– The company implemented incident response protocols and took steps to contain the incident, including shutting down certain systems, resulting in an operational disruption.
– Frontier believes it has contained the incident, restored its core information technology environment, and is in the process of restoring normal business operations.
– Law enforcement has been notified, and the incident is not expected to have a material impact on Frontier’s financial condition or results of operations.
– While the specific cyberattack type was not disclosed, file-encrypting ransomware is likely involved, as indicated by the typical response of shutting down systems.
– Although the incident caused technical issues with internal support systems, customers’ internet service has not been affected, and support is available over the phone.
– Frontier Communications is a Dallas-based telecommunications company providing services to residential and business customers across the US, with a fiber-optic network at more than 5 million locations.