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The company's nearly $5 million ransom payment to hackers defies the conventional wisdom that companies shouldn't give in to cybercriminals' demands.
Ransomware criminals are in the extortion business — they hack an organization's network, lock up the data, and demand a ransom for the keys. Last year, ransomware hackers walked away with a ...
Bloomberg reported that CDK was planning to pay a fortune in ransom to the hackers, and aggrieved customers have filed the inevitable lawsuits for exposing their personal data.
An increasing share of the ransoms paid are over $1 million as hackers target rich companies that can afford to pay, according to Chainalysis. ... The 22 best Hanukkah gifts of 2024.
LockBit is a cybercriminal group proposing ransomware as a service (RaaS). Software developed by the group (also called ransomware) enables malicious actors who are willing to pay for using it to carry out attacks in two tactics where they not only encrypt the victim's data and demand payment of a ransom, but also threaten to leak it publicly if their demands are not met.
Victims of ransomware paid their attackers more than $1 billion last year, a new report has found, a record high.
JBS paid the hackers an $11 million ransom. [12] The ransom was paid in Bitcoin. [13] American politician Carolyn Maloney criticized the company for paying the ransom due to concerns it might incentivize further attacks. [14] The attack brought attention to the potentially negative consequences of consolidation in meat production. [15]
BlackCat's innovation was to post excerpts or samples of victims' data on a site accessible to anyone with a web browser. Security experts believe the tactic is intended to demonstrate more credibility to their claims of breaching victims' systems and increase pressure on organizations to pay ransoms to prevent full public exposure of their ...