When it comes to ransomware, sometimes the cost of downtime can exceed the cost of paying up. Companies with frozen data and systems face loss of revenue, productivity, customer departures, damaged reputations, never mind the cost of the ransom itself. Take an organization like Colonial Pipeline, which should have had healthy backups in place to quickly recover from their attack and most likely did. However, they opted to shell out $4.4 million in ransom because they didn’t know how long it would take to get up and running again.
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