MoneyGram, a prominent international money transfer service, faced system downtime for several days due to a consecutive system collapse reported since September 20. This disruption has impacted MoneyGram’s global customer base, rendering them unable to conduct money transfers (as of the current writing, MoneyGram’s website still displays an alert of ongoing issues).
In their official statement, MoneyGram disclosed encountering a cybersecurity challenge, prompting a decision to shut down all systems to mitigate the spreading issue. The company is currently undergoing a thorough investigation in collaboration with cybersecurity experts and government agencies moving forward.
In a recent update issued by MoneyGram approximately 3 hours prior, some systems have been restored for operational use, allowing MoneyGram agents to resume sending and receiving international money transfers in certain capacities.
Source: BleepingComputer
TLDR: MoneyGram faced system downtime due to a cybersecurity issue, prompting a proactive shutdown of systems. Progress has been made in restoring services, with agent partners now able to process money transfers, while efforts continue to resume all services.
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