South African company which generated R4 million per month lost R50 million after a cyberattack

[Newsfeed]

South African company which generated R4 million per month lost R50 million after a cyberattack

Neels Pretorius, a cybersecurity solutions business executive at iOCO, told MyBroadband that they recently assisted a manufacturing firm that lost R50 million after a debilitating ransomware attack.

 

[Iamn0tageek]

naaiers my bru

 

[SauRoNZA]

Sounds like an insurance scam.

How do you suddenly magically lose R50million when your normal monthly revenue is less than a 10th of that and they didn’t directly access your accounts or directly stole the money.

 

[Gordon_R]

Sounds like an insurance scam.

How do you suddenly magically lose R50million when your normal monthly revenue is less than a 10th of that and they didn’t directly access your accounts or directly stole the money.

Sounds like hype to drum up business. Article should be labelled Partner Content...

 

[SauRoNZA]

Sounds like hype to drum up business. Article should be labelled Partner Content...

Yup.

Not to say a ransomware attack isn’t devastating to a business, but those numbers seem very hocus pocus.

 

[EmmanuelGoldstein]

Very highly and finely engineered smart advert using a case study. I am surprised they're not blaming the employees.

 

[cpu.]

"The threat actor had encrypted everything, including historical backups"

They should have stopped at "everything", because no backups were made.