Case Study: Ransomware Attack Costs Business $1 Million+

Recently, a mid-size manufacturing company (that has asked to remain nameless, for obvious reasons) was hit with a ransomware attack that cost them more than a million dollars – but the good news is it will never happen again, thanks to our technology integration with IT services provider Xenium.

Xenium XeProtect combines an onsite hardware appliance, ioFABRIC software, and managed services that eliminate the risk of ransomware, data loss, and downtime. XeProtect keeps a copy of data on-premises and a copy in the cloud.

ioFABRIC’s immutable snapshots allow recovery from any point-in-time, on-premises or in the cloud, with no data loss. Data is backed up and recoverable, secure from malicious attacks, and encrypted to meet security and compliance.

This story underscores the importance of protecting your company from ransomware before you’re hit with an attack.

The company paid the pirates approximately $75,000 in bitcoins; however, it was the full week of downtime following the attack that turned out to be the biggest expense. The company estimates that week of downtime cost them a million dollars in lost revenues.

It could have been worse: one-fifth of organizations that pay a ransom still don’t get their data back. And according to experts at Xenium, pirates will hit again when a company doesn’t act immediately to protect itself.

It was a costly learning experience for this company, but it doesn’t have to happen to you. Find tips for defending against ransomware on our blog here.

Read the full case study and learn the anatomy of a ransomware attack.