U.S. insurance giant CNA Financial reportedly paid $40 million to a ransomware gang to recover access to its systems following an attack in March. The attack has been attributed to a new ransomware called ‘Phoenix CryptoLocker,’ according to a March report. The development comes amid a sharp uptick in ransomware incidents, in part fueled by the pandemic, with the average ransom payment witnessing a massive 171% gain year-over-year from $115,123 in 2019 to $312,493 in 2020.
Source: https://thehackernews.com/2021/05/insurance-firm-cna-financial-reportedly.html