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Cybersecurity Insights: Lessons from a Real-World Ransomware Incident

March 17 CyberCall Recap: A Real Incident, A $1.5 Million Loss

On the March 17th edition of The CyberCall, we were joined by Eric Monroe, Principal at Zephyr Networks, an MSP who found himself on the frontlines of a significant ransomware incident. Eric received a call from a manufacturing company that had been compromised by a ransomware attack. Although they were not a Zephyr client at the time, the company urgently needed help to get back online.

The incident had already taken place days before, and early recovery attempts had failed. Eric’s first recommendation was critical: get the company’s cyber insurance provider involved. Within 24 hours, a breach attorney, a digital forensics and incident response (DFIR) firm, and Eric’s team were all activated. Zephyr served as the boots-on-the-ground support, while the forensic and legal teams coordinated the broader response.

After 1.5 weeks of intense recovery work, the manufacturer was operational again—but not without damage. The total loss at that point was $1.5 million, a sobering reminder of the cost of being unprepared for cyberattacks.

Current Cybersecurity Trends: Malware-Free Attacks & Real-World Impact

While many reports talk about malware-free attacks that exploit legitimate tools (like PowerShell or RDP), this case involved straightforward ransomware—and it still worked. Despite growing awareness, many businesses remain vulnerable to even well-known tactics.

This underscores a critical truth: the threat isn’t always advanced—but the impact always is.

Key Challenges: What Made This Ransomware Attack So Damaging?

Eric’s story revealed four core gaps that significantly increased the damage:

Lack of Proactive Security Measures
The business had weak segmentation, no EDR in place, and improperly configured backups—many of which were encrypted during the attack.
No Incident Response Plan (IRP)
Without a predefined playbook, leadership was reactive and disorganized during the first days of the breach.
Poor Cybersecurity Awareness
Employees and executives alike weren’t trained to recognize, report, or properly respond to a cyber event.
Weak Change Management
Efforts to deploy security tools and restore operations were slowed by unclear priorities and lack of discipline.

Solutions & Takeaways: What MSPs and Clients Should Learn

Based on the recovery journey and the broader discussion on The CyberCall, here are the top takeaways:

Treat IT as a Business Unit and Fund Accordingly
IT is integral to every aspect of an organization. Business units across the organization rely heavily on IT. While an organization might manage without outsourced legal or accounting services for a period, it is unlikely to function without IT. Adequate funding is essential to establish standards, processes, and procedures that enable the organization to conduct a thorough Business Impact Analysis (BIA) and Incident Response Plans (IRPs), ensuring a swift recovery from any incident.
Establish a Clear Incident Response Plan
Every organization—regardless of size—needs a tested IRP. It should include containment, communication protocols, legal/insurance workflows, and post-incident reviews.
Prioritize Security Basics
Get the fundamentals right: EDR, MFA, patching, network segmentation, and tested backup strategies.
Adopt a Zero-Trust Mindset
Always verify user and device identity before granting access. Trust nothing by default.
Let Business Needs Drive Recovery Strategy
Business Impact Analysis (BIA) must guide recovery. Know which systems and departments need to be prioritized when resources are limited.
Deliver Consistent Cybersecurity Training
Make security awareness a company-wide commitment—from help desk to CEO.
Know Your Cyber Insurance Coverage
Understand what your policy includes (and excludes), and the steps you need to follow to activate it effectively during a breach.
Follow Recognized Best Practices
Align your security operations with frameworks like CIS Controls, NIST CSF, or CMMC for stronger resilience and accountability.

Conclusion

This ransomware case study is a powerful reminder: even mid-sized businesses can face seven-figure losses when their defenses and planning fall short.

For MSPs, the message is clear—your clients’ security is only as strong as your shared preparation. And for business leaders, it’s time to ask tough questions about your readiness for a real-world attack.

If you’re not confident in your answers, now is the time to act.