Security News > 2020 > June > UCSF Pays $1.14M After NetWalker Ransomware Attack
According to a BBC report, the NetWalker ransomware is behind the attack.
After detecting the attack, UCSF isolated the affected IT system in the medical school's environment so that the core UCSF network was not affected.
The act of paying the ransom after a ransomware attack has long drawn criticism by security experts, who say that the payouts fund future malicious activities by cybercriminals, and gives them more incentive to launch further attacks.
Recent research conducted by Vanson Bourne and commissioned by security firm Sophos showed that ransomware victims that refused to pay a ransom reported, on average, $730,000 in recovery costs - while organizations that did pay a ransom reported an average total cost, including the ransom, of $1.4 million.
In 2019, a Florida city, hit by a ransomware attack that crippled its computer systems for three weeks, paid the attackers the requested ransom of $600,000.
News URL
https://threatpost.com/ucsf-pays-1-14m-after-netwalker-ransomware-attack/157015/
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