12/11/2018
This month's edition focuses on a technology provider that fell victim to a targeted cyber extortion attack. The business worked with CFC to negotiate a reduced ransom demand and pay the fee, but upon decryption of their systems, they learned that a sophisticated strain of malware was also present, resulting in further system damage and business interruption costs.
This month's cyber insurance claims case study tells the story of a technology software provider that fell victim to a targeted cyber extortion attack, in which their data and applications were encrypted and held to ransom for 75 bitcoins (nearly $600k).