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Sunday, June 13, 2021

CNA Financial reportedly paid $40 million to resolve a ransomware attack

A US insurance coverage company might have paid one of the vital costly malware ransoms to date. According to Bloomberg, CNA Financial shelled out $40 million in late March to regain management of its community following a two-week lockout. To put that payout in perspective, the CEO of the Colonial Pipeline instructed The Wall Street Journal this week his company paid $4.4 million to hackers. That’s a ransomware attack that led to gas shortages throughout the US.

“CNA is not commenting on the ransom,” a spokesperson for the company instructed Bloomberg. “CNA followed all laws, regulations and published guidance, including OFAC’s 2020 ransomware guidance, in its handling of this matter.”

The company fell sufferer to Phoenix Locker, an offshoot of the Hades ransomware created by notorious Russian cybercrime operation Evil Corp. Some safety researchers imagine Evil Corp can also be behind WastedLocker, the malware linked to final year’s Garmin ransomware attack. In 2019, the US Treasury Department sanctioned the group for its actions. It’s unclear if Phoenix, the group behind the CNA attack, is affiliated with Evil Corp.

Ransomware assaults have develop into more and more widespread and disruptive lately. In April and March, the REvil ransomware gang demanded $50 million from Apple provider Quanta and Acer. Even Cyberpunk 2077 developer CD Projekt Red had to cope with a lockout, which led to a delay within the recreation’s second main patch popping out.

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