Sopra Steria: Ryuk Attack May Cost Us $60m

I believe the correct response on reading this is “Ouch!”, followed by a review of one’s own cyber insurance…:

French IT services giant Sopra Steria has admitted a ransomware attack on its systems last month is likely to cost the company tens of millions of dollars.

The Paris-headquartered firm, which is a supplier to the UK’s NHS, was hit by a new variant of the infamous Ryuk family, forcing systems offline.

In an update yesterday, the firm claimed that the attack would negatively impact its gross operating margin by between €40m ($48m) and €50m ($60m), although €30m will be covered by cyber insurance.

The serious financial impact is due to the extensive remediation and “differing levels of unavailability” of various systems since the attack, it said.

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Original article here