Industry News: Cyber

Private Equity Is a Tantalizing Target for Ransomware Hackers

Written by Cybersecurity | Mar 19, 2020 8:41:12 PM

2020-03-17

Bloomberg: Norm Hullinger was heading into work one day in October when he got a call that his company’s network was acting up. It was no simple glitch. Hackers had started freezing the data of Alphabroder, a sportswear distributor. They wanted more than $3 million to restore it. Grappling with whether to pay, Hullinger, the chief executive officer, embarked on a journey that’s increasingly familiar to law firms, hospitals, and cities that have found themselves on the other end of negotiations with ransomware criminals.

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