Ransomware: Even backups may not save you

When the Colonial Pipeline ransomware attack became public in the first half of 2021, many were surprised that the company paid a $4.4 million ransom to recover its business systems. After all, it’s unthinkable that a company so large wouldn’t have backups in place. According to an article in the Wall Street Journal, however, Colonial’s CEO "authorized the ransom payment of $4.4 million because executives were unsure how badly the cyberattack had breached its systems, and consequently, how long it would take to bring the pipeline back." Colonial didn’t say much more than this about why they decided to pay… [Continue Reading]