Canadian Company Pays $1 Million After Ransomware Attack

Canadian Company Pays $1 Million After Ransomware Attack

By Chris Brunau

A recent ransomware attack costed a Canadian insurance company about $1 million to regain access to their data. According to reports, hackers were able to infiltrate the system and encrypt thousands of the company’s computers, forcing them to shut down for about a week last October.

The hackers bypassed the firewall and installed a form of ransomware known as BitPaymer. After the company gave in and paid the ransom due to having an insufficient BCDR solution, it took about 10 business days to rid 20 servers and 1,000 desktop computers of the ransomware infection.

It is unclear if any sensitive data is at risk due to the breach, but the massive ransom demand and lost revenue during the recovery period will likely have lasting ramifications on the company, many of which are still developing due to a recent court case which brought this story to light.

To learn more about what to do you prevent a ransomware attack, check out our recent blog with 4 simple tips to help you get started. If you want to learn even more about the current landscape of ransomware threats, check out Datto's State of the Channel Ransomware Report. Datto surveyed more than 1,400 managed service providers (MSPs) around the world about ransomware and published the key takeaways in this report. 

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