Hacking: should you pay ransoms in cryptocurrencies?

The French government would like to make it possible for insurance companies to pay ransoms. A proposal that has given rise to much debate.
06.10.2022

A dozen computers crashed, thousands of files inaccessible... In early September, Cyril's Paris-based start-up suffered an attack that paralysed its entire business. Since then, to restore the system, the hackers have demanded payment of a ransom of "several tens of thousands of euros" payable in cryptocurrencies.

"We no longer have access to anything", explains the 35-year-old boss, who has turned to the police 👮🏽 , but does not know how to deal with the ransom. Should we pay? If so, how can cryptos be acquired? Who should pay? Do insurers cover the operation? Are there any special procedures?

Format
Analysis
Topic
Technology
Author(s)
No items found.
Companies mentioned
No items found.
People mentioned
No items found.
Assets mentioned
No items found.

This article is not publically available

Join over 100 financial institutions that use our research to confidently navigate the digital asset industry.
Discover the membership

Looking to access truly actionable research?

Join over 100 financial institutions that use our research to confidently navigate the digital asset industry.
Discover the membership

Market intelligence on digital assets

Join over 100 finance leaders who use The Big Whale every week for trusted and unbiased market intelligence on digital assets.
Contact us
100%
Independent journalism
2016
Since
0
Noise