Targus, renowned for its mobile gadget and bag manufacturing, recently reported a cyberattack, compelling the organization to announce a temporary suspension of its business operations. The Targus cyberattack came to light following the detection of hackers on Targus’ file servers.
The parent company of Targus, B. Riley Financial, disclosed the cyberattack on Targus in a Form 8-K notice to regulators on April 8, revealing that an unauthorized entity had gained access to certain file systems belonging to the organization.
To mitigate the threat, the company promptly initiated measures to isolate the incident, resulting in the shutdown of several portions of its network.
B. Riley Financial Confirms the Targus Cyberattack
According to the SEC filing, upon discovering the Targus cyberattack, the organization “immediately activated its incident response and business continuity protocols to investigate, contain and remediate the incident.”
While the investigation remains ongoing, Targus assured stakeholders that the incident has been contained, and efforts to recover its systems are underway. Despite the disruption caused by the cyberattack, the parent company, B. Riley Financial, believes that the incident will not have an impact on its overall financial standing or operational results.
Moreover, it clarified that the operations of other subsidiaries under the company remain unaffected. In adherence to regulatory requirements, Targus has notified relevant authorities about the breach and has pledged cooperation with law enforcement agencies in addressing the unauthorized access to information.
The Investigation Continues
The Cyber Express has reached out to the organization to learn more about this Targus cyberattack and any potential involvement of ransomware groups. However, at the time of writing this, no official statement or response has been received from Targus. Consequently, the specifics surrounding the Targus data breach remain unverified at this juncture.
While the extent of the breach’s impact on customer data remains uncertain, Targus reiterates its commitment to collaborate with law enforcement to address any potential compromises of sensitive information.
This is an ongoing story and TCE will be closely monitoring the situation. We’ll update this post once we have more information on the Targus cyberattack or any official confirmation from the organization about the extent of the breach or any involvement of ransomware groups.
Furthermore, no ransomware group has claimed the cyberattack, leaving questions about the authenticity of the intrusion — including vulnerabilities within Targus systems or the origin of any threat actor responsible for the attack.
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