However, the legitimacy of this cyber incident remains uncertain. Reports suggest that Regency Media ceased operations in 2023, which may make it difficult for the attackers to establish contact or demand a ransom. The company, previously known for producing discs, VHS tapes, and audio cassettes for Australia’s film and music industry, appears to be a defunct entity with potentially exposed legacy data.
The authenticity of the data breach claims has not been independently verified, but experts highlight a growing cybersecurity risk for inactive companies. When businesses shut down, residual data on legacy servers or cloud systems may remain unmonitored and vulnerable to exploitation.
“This scenario highlights a critical challenge in cybersecurity: the risks posed by unmanaged legacy data when businesses shut down,” said Christiaan Beek, senior director of threat analytics at Rapid7. Attackers often target abandoned databases, where sensitive information persists without oversight or protection.
A similar case emerged in November 2023, when the INC Ransom ransomware group listed Nicholsons Solicitors, a Brisbane-based law firm, as a victim. The attack reportedly involved the theft of client correspondence, legal documents, financial reports, and over 250GB of exfiltrated data.
Beek stresses the importance of secure data management before business closure, advising companies to conduct a full inventory, encrypt or wipe sensitive systems, and ensure any remaining data is handled by a trusted custodian. Without such measures, legacy data becomes a long-term liability, increasing the risk of breaches and unauthorized access.
This incident serves as a stark reminder of the need for robust post-closure data protection strategies to prevent sensitive information from falling into the wrong hands.
Source: Cyber Daily
The European Cyber Intelligence Foundation is a nonprofit think tank specializing in intelligence and cybersecurity, offering consultancy services to government entities. To mitigate potential threats, it is important to implement additional cybersecurity measures with the help of a trusted partner like INFRA www.infrascan.net, or you can try yourself using check.website.