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TV broadcaster Sinclair hit by ransomware assault – Enterprise Insurance

(Reuters) – TV broadcaster Sinclair Broadcast Group said Monday it discovered that some of its servers and workstations were encrypted with ransomware, disrupting office networks.

Sinclair said it was investigating what information was related to the ransomware and had notified law enforcement and other government agencies.

Ransom software works by encrypting victims' data and can involve locking a corporate network or stealing data. Typically, hackers offer the victim a key in exchange for payments in cryptocurrency, which can be hundreds of thousands or even millions of dollars.

As corporate ransomware attacks become more common, President Joe Biden has made cybersecurity a top priority and is coordinating with other countries to combat the threat.

The Colonial Pipeline suffered a devastating cyberattack earlier this year that cut fuel supplies for nearly a week, leaving thousands of gas stations in the southeastern United States without fuel.

Sinclair, the second largest US television operator, said the ransomware attack could disrupt the advertising of its local broadcasters and the company is currently unable to determine whether it will have a material impact on its business or financial results.

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