GlobalTech Inc.

May 7, 2024 1 min read
GlobalTech Inc.

In July 2023, GlobalTech Inc. was hit by a sophisticated ransomware attack orchestrated by the infamous group 'LokiHacks'. The attackers managed to encrypt critical data across various departments, causing significant operational disruptions. Efforts to restore services have been ongoing, but the lack of accessible backups has prolonged the downtime. The attackers demanded a ransom of $2 million in cryptocurrency for the decryption keys. However, the company decided against paying, fearing no guarantee of data recovery and future attacks. The incident not only led to financial losses estimated at $5 million due to halted operations but also affected GlobalTech's reputation, as client trust eroded. This event highlights the critical importance of robust cyber defenses and the value of a well-prepared incident response plan.


"id": "glo429050724",
"linkid": "globaltech-inc",
"type": "Ransomware",
"date": "07/2023",
"severity": "100",
"impact": "5",
"explanation": "Attack threatening the organization’s existence"

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