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LockBit group leaked details of ransom negotiations with the Royal Mail after talks stalled
Thursday, February 16, 2023
The infamous LockBit ransomware group has published the contents of a long-drawn-out negotiation with the Royal Mail wherein the group demanded a whopping $80 million as ransom.
Dr. Ilia Kolochenko, the founder of ImmuniWeb, said, “Pragmatically speaking, the crux of the problem is the cost/benefit analysis for the victim. Royal Mail should carefully calculate how much it would cost to restore its operations from scratch and indemnify all affected customers and third parties as may be required by law.
“The ransom should normally not exceed that amount, however, the restoration timeframe and the spiralling downtime losses should, of course, be considered in the calculation. Later on, it may be a good idea to hire an experienced law firm to investigate whose fault led to the disaster. For instance, if there is a third party, whose gross negligence is the root cause of the incident, it should be liable for the costs incurred by Royal Mail.
“Most importantly, once the incident is contained, a holistic revision of internal security controls and processes must be urgently conducted to preclude upcoming attacks: a victim who pays a generous ransom usually becomes an attractive target for competing cyber gangs,” Kolochenko added. Read Full Article
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