CXO Insight Middle East Magazine - June 2021
CXO Insight Middle East Magazine - June 2021
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In this issue
In May, we’d seen another crippling
ransomware attack against a major petroleum
pipeline company in the US. The Colonial
Pipeline attack resulted in major supply chain
disruptions, leading to severe gasoline and diesel
shortages in many states in the country. This was
the largest attack on critical infrastructure in the
history of the US, and the company had to pay a
ransom of close to five million dollars in bitcoin
to DarkSide, an Eastern European hacking group
responsible for the attack. In the last 14 months,
we have seen an alarming rise in ransomware
attacks, and according to the research unit of Palo
Alto Networks, the average ransom paid has more
than doubled in 2020 to $312,493. This year, the
average ransom payment has nearly tripled. Now,
the question is should you ever pay if you are hit
with a ransomware attack? The industry is divided
on this, but the general consensus is that you can’t
trust criminals; even if you pay the ransom, there
is no guarantee that you’d get stolen data back.
CXO Insight Middle East Magazine Description:
Publisher: Insight Media and Publishing
Category: Technology
Language: English
Frequency: Monthly
CXO Insight Middle East is the most trusted source of strategic intelligence for IT decision-makers in the Middle East. Backed by media experts of the highest order, CXO Insight ME offers incisive perspectives on current and emerging trends shaping the regional technology landscape.
We deliver unmatched news coverage and in-depth analysis of the technologies and opportunities that should be on the radar of IT professionals and decision-makers looking to address today’s business problems.
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