£45 Million To Restore Business After Ransomware Attack

Jun 25, 2019

£45 Million To Restore Business After Ransomware Attack

BY Annie Stroud

Cybersecurity Ransomware

In March of this year Norsk Hydro, one of the worlds biggest aluminium producers in the US, were hit with ransomware. The strain? Locker Goga . What did this mean? Hackers took over 22,000 computers offline at 170 sites across the globe. “Computers changed simultaneously, with the message, pay us or you’ll be locked out forever. It was a disaster. Everything was infected, even the computer inside the clock!” Joe Tidy, Cyber-security reporter said. As a result, 35,000 employees were forced to use pen and paper as a means to an end. The most unsettling aspect is the fact that they are still in the process of recovering. “Everything in the company was turned upside down. People from finance were making sandwiches for the team, whilst sales were drafted in to do production line work”, Tidy continued. The company were forced to dig out old paperwork in order to operate the machines manually and bring in retired workers to help get through the job list. It comes as no surprise, that an attack on this scale can wreak havoc throughout every part of a business.

In our 2019 European Ransomware report, we found that the cost of business downtime is over 12X greater than the cost of the ransom requested. Although Norsk Hydro refused to fall into the trap of paying the ransom to the cyber criminals, they have since spent £45 million trying to recover and restore their business back to its optimal operations.

Unfortunately, evidence has started to grow to show that hackers may be getting paid off in secret by larger organisations who wish to keep the business disruptions to a minimal. “Hackers are making a killing from secret payments by major companies”. A company Coveware in Connecticut, USA specialise in making negotiations between the victims and the hackers.

Industry analysis suggests that attacks on business have gone up by 500% in the last year and the ransoms requested still continue to rise. However, with the right business continuity solution in place, you will already be saving yourself time and money in the long run just by simply backing up your business data. Although it may be tempting to pay the ransom, you’ll only be inviting the hackers to try again at a later date.

Datto’s European State of the Channel Ransomware Report

Datto surveyed nearly 300 managed service providers (MSPs) across Europe about ransomware and published the key takeaways in this report.

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