IT WORLD CANADA: Canadian firm pays $425,000 to recover from ransomware attack

Daniel Tobok
E: [email protected]
Posted on: March 20, 2019

A major Canadian company was forced to pay $425,000 in Bitcoin over the weekend to restore its computer systems after suffering a crippling ransomware attack that not only encrypted its production databases but also the backups as well.

“They literally had not choice but to pay” because the backups were frozen, said Daniel Tobok, CEO of forensics firm Cypfer, which is helping with the investigation.