FedEx attributes $300 million loss to NotPetya ransomware attack
FedEx reported an estimated $300 million loss in its first quarter earnings report Tuesday, attributing the loss mostly to a computer virus that impacted the company’s operations across Europe in July. The package delivery company’s Dutch subsidiary, TNT Express, was infected with the NotPetya ransomware virus in late June. NotPetya hit companies in Ukraine in late June and soon spread to other countries. Much of TNT Express’s operations are based in Ukraine. The attack froze users’ computers, encrypted their files and demanded a ransom of $300 in Bitcoin to regain access. Cybersecurity researchers found, however, that regardless of whether a victim paid the ransom for NotPetya, data on infected computers may be deleted. The earnings report released Tuesday by FedEx notes that most of TNT’s services resumed after the attack and “substantially all” its critical operational systems are back up and running, but volume, revenue and profits were negatively impacted. […]
The post FedEx attributes $300 million loss to NotPetya ransomware attack appeared first on Cyberscoop.
Continue reading FedEx attributes $300 million loss to NotPetya ransomware attack
Twilio, the most successful tech IPO to date in 2016, released its Q2 earnings today after the bell. Immediately share prices increased in after-hours trading.