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The 11 Biggest Ransomware Attacks Of 2020 (So Far)

Municipal governments, universities and private businesses have spent more than $144 million responding to the biggest ransomware attacks of 2020 (so far), spending on everything from rebuilding networks and restoring backups to paying the hackers ransom.

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2. Cognizant

Recovery And Mitigation Costs: $50 Million To $70 Million

Cognizant publicly admitted April 18 that its network was infected with Maze ransomware, which ended up encrypting servers and taking out some of the company’s work from home capabilities. It slowed the ability of the Teaneck, N.J.-based company, No. 6 on the 2020 CRN Solution Provider 500, to enable more work from home by taking out tools that Cognizant used to automate and provision laptops.

CRN first reported that some Cognizant employees lost email access as a result of the ransomware, forcing them to communicate with coworkers and customers through other means. By May 7, Cognizant was saying that it had fully recovered from the ransomware infection and restored most of its services. The incident only impacted Cognizant’s internal network and not customer systems, the company said.

The revenue and corresponding margin impact of the ransomware attack are expected to be in the range of $50 million to $70 million in the second quarter of 2020, Cognizant said May 7. The company said it expects to incur additional legal and consulting costs tied to the investigation, service restoration and remediation of the ransomware attack.

 
 
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