Security News > 2020 > December > Online Learning Company K12 Paying Ransom Following Ransomware Attack

Online learning solutions provider K12 Inc., which recently announced changing its name to Stride Inc., said on Monday that it had decided to pay a ransom to cybercriminals who managed to breach its systems and deploy a piece of ransomware.

The attackers deployed a piece of ransomware and accessed information stored on some corporate back-office systems.

Stride pointed out that the attack did not disrupt its learning management system, nor any major corporate systems - it claimed accounting, payroll, procurement, enrollment and shipping systems remained operational.

"We carry insurance, including cyber insurance, which we believe to be commensurate with our size and the nature of our operations. We have already worked with our cyber insurance provider to make a payment to the ransomware attacker, as a proactive and preventive step to ensure that the information obtained by the attacker from our systems will not be released on the Internet or otherwise disclosed," Stride said on Monday.

It's currently unclear what type of ransomware was used in the attack and how much the company is paying to the cybercriminals.

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