Ostra
  • Email Sign Up
  • Contact
  • Home
  • Technology
  • Clients
  • Partners
  • About
    • Careers
  • Blog
  • Contact
  • Search
  • Menu Menu

Travel Management Firm CWT Pays $4.5 Million to Hackers

August 11, 2020/in Security, Ransomware Attacks /by 0stRa

The US business travel management firm CWT just paid a $4.5 million bitcoin payment to hackers who stole terabytes of information. CWT claims that the hackers stole sensitive corporate files and put 30,000 computers offline. CWT represents more than 1/3 of companies on the S&P 500, which makes them a very valuable target for hackers.

Ransomware. Why did it have to be Ransomware?

Just like Indiana Jones hates snake’s, business executives hate ransomware. When ransomware is used by experienced hackers it can be very effective and can give all the leverage to the criminals, leaving businesses stuck with limited options. A majority of the time the hackers end up getting paid, which is why ransomware is a CFOs worst nightmare. In the case of CWT, the strain of ransomware used was called “Ragnar Locker” which encrypted computer files and made them useless until the ransom was paid. The hacking group originally asked for a $10 million payment, but a CWT negotiator brought the ransom to $4.5 million instead.

CWT was quick to pay the hackers as they wanted their systems online and sensitive information returned. On July 28th a bitcoin payment for 414 bitcoin or $4.5 million US dollars was paid to the hacking group and the attack was over.

Cybersecurity experts say that paying ransoms encourages future attacks, but these situations leave business executives with a difficult decision.

Protect your business from ransomware

Ostra Cyber Security provides active defense protection for your businesses’ data and acts immediately instead of monitoring and alerting as many antiviruses do. Ostra keeps everything up to date meaning the latest threats are already neutralized before they attack.

Want to find out more? Visit Ostra.net or contact us today at protection@ostra.net

https://nyti.ms/2DAnObP

 

Tags: bitcoin, compromised, coronavirus, covid19, CWT, cyber security, cyber training, cyber warfare, cyberattack, cybercrime, cybersecurity, cybersecurity training, cyberthreat, cyberwarfare, dark web, hacking, hacking group, malware, nonprofit, ostra, ostra cybersecurity, password security, phishing, ransom, ransom payment, ransomeware, ransomware, remote, remote office cybersecurity, remote work, risk, scam, small business, small business cybersecurity, social engineering attack, spearphishing, Threat, training, twitter, unsecured network, virus
Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on Pinterest
  • Share on LinkedIn
  • Share on Tumblr
  • Share on Vk
  • Share on Reddit
  • Share by Mail
You might also like
Ostra-cybersecurity-in-education-998x681px The Challenge of Cybersecurity Education at Colleges
Outdated Budgets are a Threat to Business Cybersecurity
Cybersecurity Awareness Month
Cybersecurity Challenges and Concerns of Remote Working
PRESS RELEASE: Ostra Cybersecurity Secures Capital to Bring Fortune 100-Caliber Protection to Small and Mid-Sized Businesses
“Who Can You Trust” – A Hacks and Hops Session Recap

Subscribe to our Newsletter

Recent Posts

  • Ostra Cybersecurity Expands Senior Leadership Team
  • Spot the Signs of Tax-Time Phishing Scams
  • Protecting What We Value: Why Data Privacy Is Worth the Effort
  • Ostra Cybersecurity Expands Partner Success Team
  • Ostra’s Year in Review
  • Ostra Cybersecurity Adds Director for Rapidly Expanding Channel Partner Network
  • Employee Spotlight: Eunice Asemnor, Security Analyst
  • PRESS RELEASE: Ostra Cybersecurity Secures Capital to Bring Fortune 100-Caliber Protection to Small and Mid-Sized Businesses
  • “Who Can You Trust” – A Hacks and Hops Session Recap
  • Why Businesses Keep Losing the War on Cyber Terror: Part 3

Archives

Contact

Ostra Cybersecurity, Inc.
6101 Baker Rd
Suite 202
Minnetonka, MN 55345

contact@ostra.net    (866) 336-7872

Subscribe to our Newsletter

Get Social

© 2023 Ostra Cybersecurity, Inc. -
  • Website Terms & Conditions
  • Privacy Policy
  • Terms of Service
Scroll to top

This site uses cookies. By continuing to browse the site, you are agreeing to our use of cookies.

Accept

Cookie and Privacy Settings



How we use cookies

We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.

Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.

Essential Website Cookies

These cookies are strictly necessary to provide you with services available through our website and to use some of its features.

Because these cookies are strictly necessary to deliver the website, refuseing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.

We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.

We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.

Other external services

We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.

Google Webfont Settings:

Google Map Settings:

Google reCaptcha Settings:

Vimeo and Youtube video embeds:

Privacy Policy

You can read about our cookies and privacy settings in detail on our Privacy Policy Page.

Privacy Policy