bitcoin

Kaseya denies paying $70M ransom as it begins data recovery process for affected companies

IT solutions firm Kaseya has debunked rumours that it paid a $70 million ransom to perpetrators of the cyberattack on its system earlier this month in exchange for a decryption tool.

“While each company must make its own decision on whether to pay the ransom, Kaseya decided after consultation with experts to not negotiate with the criminals who perpetrated this attack and we have not wavered from that commitment. 

“As such, we are confirming in no uncertain terms that Kaseya did not pay a ransom – either directly or indirectly through a third party – to obtain the decryptor.” a recent statement on the VSA security incident read.

A ransomware assault by REvil knocked down Kaseya’s VSA supply chain affecting thousands of businesses across different countries.

bitcoin

The IT software provider has since been working closely with Emisoft to find a way to crack and recover data that was encrypted by the criminal ransomware gang. So far, Kaseya claims that the decoding tool has been effective.

“The decryption tool has proven 100% effective at decrypting files that were fully encrypted in the attack.”

CNN reported last Friday that Kaseya is demanding that businesses sign a non-disclosure agreement before they are given access to the decryption tool.

NEXT POST: Installation of Crypto ATMs Skyrockets

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

Check Also

bitcoin

Ripple v SEC lawsuit is going much better than expected, new claims by Coinbase CEO

Coinbase CEO Brian Armstrong has claimed that the Ripple v SEC lawsuit is going much …

Leave a Reply

Your email address will not be published. Required fields are marked *