COMPANY LAYS OFF 300 EMPLOYEES DUE TO A RANSOMWARE INFECTION.

Ransomware is a type of crypto-virology malware that threatens to release the victim's data or permanently block access to it unless a ransom is paid.

Starting around 2012 the use of ransomware scams has grown internationally. There were 181.5 million ransomware attacks in the first six months of 2018.

A cyber-attack can have disastrous consequences for the affected companies a Massive loss of data, layoffs. Fines for non-compliance IT security and high recovery costs are catastrophic scenarios.

In addition to indefinitely halting its operations after being unable to recover at 100% from a devastating attack by ransomware recently occurred.

DID THE ATTACK REALLY AFFECT THE COMPANY?

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The company has decided not to disclose further details about the incident, such as the amount of money it has invested for its recovery or the technical characteristics of the attack. The company has apologized for the decision, which resulted in the loss of hundreds of thousands of dollars.

In her letter the CEO states that although the company's IT security team worked very hard in the process of recovering from the incident. Although she even dipped into her own savings to try to keep the agency afloat, her efforts were in vain.

Franecke concluded his message by making it clear that the company will suspend operations indefinitely, asking for the understanding of affected employees. An update on the incident will be released on January 2.

Unfortunately, this is not the first time a company has resorted to suspending operations due to a cyber-attack.

A few months ago, computer security experts from the International Institute for Cyber Security (IICS) reported a similar incident that affected the forensics firm Eurofins Scientificwhose computer systems were infected with ransomware.

After which the management decided to temporarily send home almost 1,500 employees. Whose jobs were completely offline.

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