NEU Urology Medical Practice Held Hostage for $75,000 BitCoin to Unlock System
Exploit: Ransomware
NEO Urology: Healthcare provider for urology care services
Risk to Small Business: 1.666 = Severe: Hackers gained access to NEO Urology’s network, encrypting the company’s files and disrupting many of their services. Employees were notified of the ransomware by a fax listing “Pay4Day.io” as a contact address for additional information. While their network was inaccessible, the practice reported operational losses of $30,000 - $50,000 per day, a significant sum that ultimately led them to pay the $75,000 ransom using Bitcoin. In this case, it was more affordable to pay the ransom than to experience the revenue losses that accompany an inaccessible network. Unfortunately, their willingness to pay could make them a target for additional attacks.
Individual Risk: No personal information was compromised in the breach
Customers Impacted: Unknown
How it Could Affect Your Customers’ Business: Every company needs a ransomware response plan that is both technological and philosophical. Many ransomware attacks originate through phishing scams or other malware, a maxim that underscores the importance of robust cybersecurity initiatives. At the same time, developing adequate backup protocols can help companies avoid paying ransoms that neither guarantee a solution nor curtail bad actors from returning in the future.
Risk Levels:
1 - 1.5 = Extreme Risk
1.51 - 2.49 = Severe Risk
2.5 - 3 = Moderate Risk
*The risk score is calculated using a formula that considers a wide range of factors related to the assessed breach.
