Data Breach News

Crinetics Cyberattack Confirmed: Experts Engaged, Security Tightened

The attackers, affiliated with the LockBit ransomware group, announced the via a dark web post.

by Ashish Khaitan March 20, 2024 in Data Breach News, Firewall Daily Reading Time: 2 mins read 0

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, a prominent US-based organization renowned for its contributions to drug discovery and development, has disclosed that it recently encountered a cyberattack. An official spokesperson conveyed to The Cyber Express that the company swiftly responded to the Crinetics cyberattack after identifying suspicious activity in an employee's account.

According to the official statement, Crinetics promptly activated its cybersecurity incident response protocol, launching a comprehensive investigation into the matter.

Additionally, the company engaged third-party cybersecurity experts and promptly notified law enforcement agencies. To contain the situation, Crinetics also implemented enhanced security measures across the organization.

Decoding the Crinetics Cyberattack

Source: Daily Dark Web on X

Upon learning of the cyberattack on Crinetics, The Cyber Express promptly sought insight from the pharmaceutical company. In their response, Crinetics disclosed the proactive measures taken upon discovering the breach. 

“Crinetics recently identified suspicious activity in an employee's account and disabled it on the same day. Crinetics immediately activated its cybersecurity incident response process, initiated an investigation, engaged third-party cybersecurity experts to assist, and notified law enforcement. The company also implemented additional company-wide security measures and contained the incident,” the Crinetics Spokesperson told The Cyber Express.

Despite the Crinetics cyberattack, the organization reassured the stakeholders that the incident did not disrupt its operations or compromise its vital databases related to discovery and research.

“This incident has not affected the company's operations or its discovery and study databases. Crinetics takes all security-related matters seriously and we are committed to conducting a full investigation, which is currently ongoing, and will provide any legal notifications required,” Officials added further.

The LockBit Ransomware Takedown

The LockBit ransomware claimed the cyberattack on Crinetics Pharmaceuticals via a dark web post. However, this incident unfolded against the backdrop of recent law enforcement efforts to dismantle the LockBit ransomware group. 

Dubbed “Operation Cronos,” a collaborative initiative spearheaded by the FBI struck a significant blow to LockBit's infrastructure. By dismantling servers, seizing source code, and disrupting data storage, authorities dealt a severe blow to the ransomware syndicate's operations.

The crackdown on LockBit extended across international borders, with law enforcement agencies in the UK, United States, and Europe seizing over 35 servers linked to the nefarious group. Moreover, authorities unearthed approximately 30,000 Bitcoin wallets associated with ransom payments, shedding light on the scale of the criminal enterprise.

Despite these significant strides, the battle against LockBit persists. Authorities have taken measures to restrict access to LockBit-related accounts on prominent cryptocurrency exchanges, yet challenges persist in tracking and prosecuting affiliates. The elusive nature of key LockBit members further complicates efforts to dismantle the syndicate entirely.

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