Cyber attacks in times of crisis as an economic threat
It was only at the beginning of the year that the GEDIA case in Germany impressively demonstrated the consequences that companies have to deal with when cyber criminals and hackers manage to gain access to sensitive data. The automotive supplier became the victim of a phishing attack, had to shut down all its systems and grant their employees a leave. The attackers demanded a million-dollar ransom and, after GEDIA refused to pay the sum, released sensitive company information – including account and credit card data as well as business emails. The ensuing Corona crisishit the automotive industry particularly hard, and although the company itself did not comment on the extent of the incident, it is now estimated that the losses added up to several millions.
CWT, an American travel company,suffered a similar fate when it got into the cyber criminals’ firing line in the middle of the crisis. Around 30,000 computers were infected and around two terabytes of sensitive data were encrypted. Bizarre about this case: In a chat with the hackers, CWT was able to negotiate the ransom from almost 10 million to 4.5 million dollars. Considering the circumstances, this was nevertheless a considerable sum for the already weakened company.