Cyber Attack On 'Code Spaces' Puts Hosting Service Out of Business

Code Spaces, a code-hosting and software collaboration platform used by different organizations for project management and development needs, was forced to shut down operations after an attacker compromised its internal system and deleted its customer’s data and backups as well.

This is really a nightmare for the code-hosting company based in Coventry, UK that claimed to offer "Rock Solid, Secure and Affordable Svn Hosting, Git Hosting and Project Management." Codespaces.comhomepage shows a lengthy explanation on the attack and an apology from its customer.

“Code Spaces will not be able to operate beyond this point, the cost of resolving this issue to date and the expected cost of refunding customers who have been left without the service they paid for will put Code Spaces in an irreversible position both financially and in terms of ongoing credibility,” read the note. “As such at this point in time we have no alternative but to cease trading and concentrate on supporting our affected customers in exporting any remaining data they have left with us.”

The devastating security breach began with a Distributed Denial of Service (DDoS) attack over a period of 12 hours on 17 June followed by an attempt to extort money from the company.

Source http://thehackernews.com/2014/06/cyber-attack-on-code-spaces-puts.html?m=1