Why Is Ransomware an Act of Terrorism | Sync Up With Rocket IT
Need a hub for trending technology news? Look no further as Rocket IT launches Sync Up, a new video series dedicated to keeping you up to date on cybersecurity events, software updates, tech tips, and more.
Check out episode one to learn why recent online attacks have forced the U.S Justice Department to classify ransomware as an act of terrorism.
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In this episode, you’ll hear about:
- The Ransomware attack that halted production at one of the world’s biggest meat-processing plants, owned by JBS.
- A breakdown of ransomware and what it means
- How hacking groups, like REvil and DarkSide, have turned cyber crimes into a profitable business structure
- Colonial Pipeline’s $4 million dollar payout and JBS’s $11 million dollar loss from ransomware
- Why Colonial Pipeline’s decision to to disable its entire network to prevent the malware’s spread cost them another $10 million in data restoration