Customers At Several Small Sized Banks Affected As Tech Provider C Edge Suffers Ransomware Attack

Ransomware Attack Affects Customers of Multiple Small Banks

C-Edge Technologies, a technology service provider to co-operative and regional rural banks, has been hit by a ransomware attack.

The attack has impacted payment systems and other banking services at hundreds of banks across India.

C-Edge Technologies provides banking technology systems to over 200 co-operative banks and regional rural banks. The ransomware attack has encrypted the systems, making it impossible for banks to process transactions or access customer data.

As a result, customers of these banks have been unable to access their accounts, make payments, or withdraw cash. The attack has also caused disruptions to other banking services, such as online banking and mobile banking.

C-Edge Technologies is working to restore its systems and resolve the issue. However, it is unclear how long it will take to fully recover from the attack.

The attack on C-Edge Technologies is a reminder of the growing threat of ransomware attacks on businesses. Ransomware is a type of malware that encrypts a victim's files and demands a ransom payment in exchange for decrypting them.

Businesses need to be aware of the threat of ransomware and take steps to protect themselves from attacks. This includes implementing strong security measures, such as firewalls and anti-malware software, and regularly backing up data.