Travelex Pays $2.3M in Bitcoin to Hackers Who Hijacked Network in January


Travelex has paid out $2.3 million in Bitcoin to hackers to regain access to its global network after a malware attack at the new year knocked the global currency exchange offline and crippled its business during the month of January.

The move—reported by the Wall Street Journal—may seem counterintuitive, as experts in the past have typically recommended that companies refrain from paying threat actors ransom when such scenarios occur.

However, this mindset has been shifting as attacks become more and more sophisticated and paying ransoms to hackers has less of a detrimental financial effect on a business than continuing to be locked out of systems.

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Source: ThreatPost