LockBit Ransomware Attack Costs CRM Services Provider Over $42 Million

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Atento, a customer relationship management (CRM) services provider, has experienced $42.1 million in financial losses due to a LockBit ransomware attack that took place in October 2021, according to Bleeping Computer. This figure consists of revenue loss of $34.8 million and $7.3 million in costs related to mitigating the attack.

Furthermore, the ransomware attack’s impact was “far greater” than Atento initially anticipated, CEO Carlos López-Abadía stated. Atento delivered three quarters of outperformance prior to the cyberattack and outperformed on every key metric during this period. It also expanded into high-growth, high-margin verticals in Latin America and the United States and generated high levels of hard currency revenues.

A Closer Look at the Atento Ransomware Attack

Atento disclosed its ransomware attack on Oct. 22, 2021, Bleeping Computer reported. At this time, Atento suspended the operation of its Brazil-based systems to contain the threat.

Following the Atento attack, customers regained some of their services within 24 hours, Bleeping Computer noted. During this time, Atento resumed its data center operations and recovered parts of the impacted network. On Nov. 1, 2021, a LockBit site published stolen files from the Atento attack.

Atento is one of the world’s leading CRM and business process outsourcing (BPO) providers. It has a workforce of 150,000 employees and supports 4,000 customers globally.

What Is LockBit?

Cybercriminals can use LockBit ransomware to block user access to computer systems in exchange for a ransom payment, Russian cybersecurity software provider Kaspersky indicated. The ransomware automatically looks for targets, spreads malicious software and encrypts accessible computer systems on a network.

Along with Atento, Accenture, a Top 250 MSSP, reported a LockBit attack in August 2021. Accenture mitigated the attack and indicated it did not impact its internal or customer systems.

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