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.


Original article here