Rex Mundi, in Latin, means King of the World. He was the false God of material things and the embodiment of evil. Rex Mundi was made famous by an American comic book series published by Image Comics and Dark Horse Comics.
On May 18 of this year, a man named “Rex Mundi” was arrested by Interpol in Thailand. Ending the reign of this hack and extort professional since he began his operations as early as 2012.
Rex Mundi and his gang operated mainly in Europe, victimizing large corporations. They hacked the corporate network’s data and demanded ransom with threats of divulging them online.
This arrest might have stopped this gang’s operations temporarily but there are more Rex Mundi’s operating around the globe at any given time.
Companies are being forced to pay for hacked data as they would lose more if these were dumped online. CEO’s fall prey to these vultures as they have no way of getting back their precious data without negotiating.
WannaCry and NotPetya made the news last year. There are more ransomware threats out there. Companies are now aware of these threats and are putting up defenses to secure their data. Data backup is not enough. A multi-pronged defense system is needed to prevent malicious attacks on a company’s internet network. Data encryption is also a necessity to protect sensitive data.
The list goes on and these cyber thieves are getting away with these. The company’s network might have the best security set up and still would have loopholes within their system. Their end users might not be prepared for these attacks. Their sales reps, their managers, etc. might not have the knowledge to combat these bugs, these malwares, the phishing scams, the social engineering schemes. End-user education is essential in setting up defenses from within the company.
In general, the CEO’s, the managers and everyone else in the organization needs to be on their toes to put up with these modern-day Rex Mundis.