NetSpi Executives

APRIL 27, 2024

Victims pay ransomware adversaries for decryption keys through cryptocurrency, such as Bitcoin. Hunt and destroy or encrypt backups hosted in local and cloud networks as well as virtual machine snapshots. Some can’t afford not to pay, and some are covered by cyber insurance. Protect your backup systems.

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Ransomware Cyber Insurance Backups Insurance 52

eSecurity Planet

FEBRUARY 16, 2021

For access to the decryption key, the victim must make prompt payment, often in cryptocurrency shielding the attacker’s identity. Offline Backups. While virtual backups are great, if you’re not storing data backups offline, you’re at risk of losing that data. Also Read: Best Encryption Tools & Software for 2021.

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Ransomware Backups Software Encryption 97

SC Magazine

JUNE 15, 2021

From a financial perspective, if we did have to pay the ransomware, do we know how to buy cryptocurrency? Will our cyber insurer buy it or would we?” . “Is the priority to support customers, or recover our plant or both? And if all our plants are hit, which do we focus on first?

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Ransomware Insurance Cyber Insurance Risk 60

SC Magazine

FEBRUARY 25, 2021

It’s a little blunt to be a solution,” said Mike McNerney, chief operating officer of Resilience, which provides cyber insurance, and a former policy adviser to the Department of Defense. A less abrasive way to interrupt payments could come at the cryptocurrency level. “We’re going to end up criminalizing being a victim.

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Ransomware Insurance Government Cryptocurrency 104

Thales Cloud Protection & Licensing

AUGUST 11, 2021

Even the most critical damages caused by ransomware are repairable as long as you have a solid backup strategy. million) before crooks could transfer funds away from their cryptocurrency wallet, this newsmaking breach demonstrated how lucrative this foul play could get. Ransomware incidents covered by cyber insurance policies.

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Ransomware Insurance Encryption Cyber Insurance 71

Spinone

OCTOBER 13, 2020

Ransom payments are generally demanded in the form of untraceable cryptocurrency such as Bitcoin. As is often the case, the cost of restoring files from backups can amount to more than paying the ransom. Backups aren’t working. Ransomware today can actually look for backup files along with user data.

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Ransomware Backups Data breaches Encryption 52

Pen Test

OCTOBER 10, 2023

Victims are instructed to pay a ransom payment, usually demanded in cryptocurrency, in exchange for the decryption key. Sopra Steria - One of the Largest Reported Ransoms Europe's major IT services firm Sopra Steria was breached in October 2020 by the Ryuk gang, with extensive backups preventing major disruption.

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Ransomware Backups Insurance Cyber Insurance 52

ForAllSecure

MAY 30, 2023

Obviously, organizations gotten smart to that and they started doing offline backups securing their backups differently, so that they would continue to have access and availability. of cryptocurrency. By no means. Does that mean that there was no ransomware occurring? VAMOSI: Should you pay?

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Ransomware Encryption Authentication Backups 40

SC Magazine

JUNE 21, 2021

Policy levers can include direct federal investment in baseline cybersecurity , regulations to improve baseline cybersecurity , more aggressive law enforcement and intelligence community takedowns of criminal infrastructure, and regulating cryptocurrencies. But such a scenario would be more reasonable for small- and medium-sized businesses.

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Ransomware Insurance Government Cyber Insurance 118

Adam Levin

DECEMBER 27, 2019

We will also see better backup practices that will help minimize or neutralize the threat of these attacks. . Cryptocurrency miners will continue to get rich off of stolen electricity. Related to the botnet craze, we will see an increase in computing power theft used to mine cryptocurrency.

Cybersecurity 100

Cybersecurity CISO IoT Insurance 100