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Cybersecurity

Markets shrugged: why ignoring a cyberattack on Dr. Reddy’s, a Nifty 50 company, is worrisome

Markets shrugged: why ignoring a cyberattack on Dr. Reddy’s, a Nifty 50 company, is worrisome
Markets shrugged: why ignoring a cyberattack on Dr. Reddy’s, a Nifty 50 company, is worrisome
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Concept by Muhabit ul haq

Synopsis

Dr. Reddy’s is one of the 50 companies that make up India’s premier stock index, the Nifty 50. It has been more than four days since the company was subject to a cyberattack. While most cybersecurity experts believe the company faced a ransomware attack, the markets have hardly reacted. Should regulators set norms on procedures and disclosures for such cases?

It is not everyday that one of the 50 companies that make up India’s premier stock index becomes a victim of a cyberattack. In fact, this may be the first time such a major breach has become public. Theories abound, but most cybersecurity experts believe Dr. Reddy’s Laboratories faced a ransomware attack. The strain ransomware in question is believed to be Ragnarok, a relatively new type, which according to McAfee, is also known as
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