Brandywine Realty Trust Hit by Ransomware Cyberattack
Brandywine Realty Trust, a major U.S. realty trust entity, has confirmed a significant cyberattack resulting in data theft from its network. The Philadelphia-based company is one of the largest real estate trusts (REIT) in the nation, with an impressive portfolio of about 70 properties across major cities including Austin, Philadelphia, and Washington, DC.
Details of the Cyberattack
In a recent filing with regulators, Brandywine described the incident as unauthorized access coupled with encryption deployment on its internal corporate IT systems, a classic hallmark of a ransomware attack. Consequently, the attack caused disruption to the company’s business applications that support its core operations and corporate functions, including its essential financial reporting systems.
Company Response and Impact
Following the attack, Brandywine took prompt action, shutting down some of its systems in a bid to contain the activity. The company confirmed that hackers managed to extract files from its systems. However, it is still investigating whether any sensitive or personal information was compromised in the breach.
Among Brandywine’s high-profile tenants are industry giants like IBM, Spark Therapeutics, and Comcast.
New Cybersecurity Regulations in Effect
Since the introduction of new rules in December, U.S. publicly traded companies are now obliged to disclose cybersecurity events that could significantly impact their business to investors. In light of this, Brandywine stated in its filing that it does not believe the incident is likely to have a material impact on its operations.
In today’s digital age, cybersecurity breaches are an alarming reality for businesses across the globe. Companies like Brandywine Realty Trust are faced with the constant challenge of safeguarding their systems and data. As the investigation into this incident continues, it serves as a potent reminder of the importance and necessity of robust cybersecurity measures in the modern business landscape.
