Wire transfer service MoneyGram has been unavailable since Friday due to a cyberattack. On Tuesday morning, MoneyGram confirmed the attack on X, stating it had “recently identified a cybersecurity issue affecting certain of our systems.”
“Upon detection, we immediately launched an investigation and took protective steps to address it, including proactively taking systems offline, which impacted network connectivity,” the US-based company added.
“Once all systems are fully operational, transactions that are currently pending will be made available to customers.”
MoneyGram is collaborating with law enforcement and top external cybersecurity specialists to manage the situation, though it remains unclear when services will be restored.
This disruption has left many users unable to access their accounts, with the main website and app still down. Consequently, some customers are pressing the company for a swift restoration and reassurances regarding the safety of their data.
A frustrated user on X expressed their concerns, stating, “We will hold MoneyGram responsible for anything that happens with our bank account. It’s so irresponsible of this company; we want our money back!”
While MoneyGram has not provided detailed information on the specifics of the attack, there is growing worry that the breach could have compromised sensitive user data.
Taking IT systems offline is a common strategy to isolate and mitigate a ransomware attack, which could otherwise spread throughout the network and encrypt data on multiple computers.
Additionally, ransomware groups frequently steal data from companies before proceeding to encrypt the computers involved.
MoneyGram has yet to officially comment further, but their statement on X emphasizes their ongoing efforts to restore their systems and resume normal operations.
