Travelex paid $2.3M in Bitcoin to get its systems back from hackers – The Next Web

Travelex paid hackers $2.3 million worth of Bitcoin BTC to regain access to its computer systems after a devastating ransomware attack on New Years Eve, reports the Wall Street Journal.

The London-based company said it decided to pay the 285 BTC based on the advice of experts, and had kept regulators and partners in the loop throughout the recovery process.

Although Travelex, which manages the worlds largest chain of money exchange shops and kiosks, did confirm the ransomware attack when it happened, it hadnt yet disclosed aBitcoin ransom had been paid to restore its systems.

Travelex previously blamed the attack on malware known as Sodinokibi, a Ransomware-as-a-Service tool-kit that has recently begun publishing data stolen from companies that dont pay up.

Travelex operations were crippled for almost all of January, with its public-facing websites, app, and internal networks completely offline. It also reportedly interrupted cash deliveries to major banks in the UK, including Barclays and Lloyds.

At the time, BBC claimed that Travelex attackers had demanded $6 million worth of Bitcoin to unlock its systems.

Investigations into the identity of the attackers continue, spearheaded by Londons metropolitan police.

Published April 9, 2020 17:01 UTC

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Travelex paid $2.3M in Bitcoin to get its systems back from hackers - The Next Web

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