The Equifax breach will likely devour the entire breach news cycle in the near term, given the size of the incident and that it gets to the essence of the company’s business of maintaining some of the most sensitive consumer information. Still, in what for the moment might seem like a more pedestrian risk, companies continue to be affected by ransomware. One of the unique aspects of ransomware is that it does not involve just stealing information, but makes the information unavailable to the business. If critical information is unavailable, there is operational impact and often a material effect that … Continue Reading
A new strain of malware began infecting computer systems across the globe on Tuesday. Similar to the WannaCry ransomware that struck last month, the malware used in this week’s attack spreads quickly across multiple computers on a network, encrypting files and displaying a ransom note that requests $300 worth of bitcoin for a decryption key.
Reports of infection began in Ukraine, where computer systems belonging to government ministries, financial institutions, transportation systems, and major energy companies began malfunctioning. The attack was first believed to be caused by a variant of the “Petya” strain of ransomware, however recent reports from security … Continue Reading
In this post, we summarize key facts regarding the WannaCry ransomware attack, provide an abbreviated list of known affected companies, and offer an overview of the legal issues and the response to the attack. This post is an update to our prior coverage of WannaCry.… Continue Reading
A large-scale ransomware attack began impacting companies and hospitals across the United States, Europe, and Asia early Friday morning. According to reports, companies in more than 70 countries have reported incidents as of Friday afternoon.
The attacks are being caused by ransomware called “WannaCry,” which quickly moves across systems to encrypt large amounts of computer data. Ransom demands seen during the current attack have requested Bitcoin amounts that equal between $300 and $600 in return for the decryption key. According to security researchers, the ransomware exploits a vulnerability in Microsoft’s Windows operating system that was disclosed in an … Continue Reading