Security News > 2022 > March > LockBit victim estimates cost of ransomware attack to be $42 million
Atento, a provider of customer relationship management services, has published its 2021 financial performance results, which show a massive impact of $42.1 million due to a ransomware attack the firm suffered in October last year.
More specifically, the disruption caused by the cyberattack affected the company's Brazil-based operations, resulting in a revenue loss of $34.8 million and an additional $7.3 million in costs related to mitigating the impact of the incident.
The customers only got back limited services after 24 hours, as the firm progressively resumed data center operations and gradually recovered parts of the impacted network.
This clearly indicates that Atento refused to pay the ransom, so the negotiations with the ransomware gang, if any, reached a dead end, leading to the threat actor subsequently leaking the stolen data.
LockBit's ransom demand remains unknown but the ransomware gang is no stranger from asking millions from its victims in exchange for the decryption tool.
The best way to tackle the ransomware menace is to upgrade your security stance through regular vulnerability scanning, invest in multi-faceted detection solutions, and maintain a comprehensive and systematic data backup scheme.
News URL
Related news
- French govt contractor Atos denies Space Bears ransomware attack claims (source)
- Casio says data of 8,500 people exposed in October ransomware attack (source)
- Preventing the next ransomware attack with help from AI (source)
- Ransomware on ESXi: The mechanization of virtualized attacks (source)
- OneBlood confirms personal data stolen in July ransomware attack (source)
- Enzo Biochem settles lawsuit over 2023 ransomware attack for $7.5M (source)
- Medusa ransomware group claims attack on UK's Gateshead Council (source)
- Ransomware attack forces Brit high school to shut doors (source)
- Ransomware gangs pose as IT support in Microsoft Teams phishing attacks (source)
- Security pros more confident about fending off ransomware, despite being battered by attacks (source)