The company expects to incur "significant legal and other professional services expenses" associated with the hack of its software in future quarters.
A report by CipherTrace finds that losses from cryptocurrency theft fell 57% in 2020.
The company says the hackers' malware attack enabled them to select more than 40 customers for "narrower and more focused" measures.
The hackers appear to have used a "supply-chain attack" to breach the computer systems of federal agencies including the Treasury and Commerce departments.
The hack of FireEye "demonstrates that even the most sophisticated companies are vulnerable to cyberattacks."
The attack on Universal Health Services left doctors and nurses scrambling to render care, with computers replaced by pen and paper.
“The United States government is starting to turn the tide on Chinese intrusion operations on Western companies and targets."
The attack exploited human vulnerabilities to gain access to its internal systems.
The company said it had no evidence the incident affected its own network and remains fully operational.
The demanded ransom is often a moderate amount that would pale in comparison to the recovery and reputational costs for a company that refuses to pay.
“Ring does not fulfill its core promise of providing privacy and security for its customers, as its camera systems are fatally flawed,” the suit says.
Understanding the business model behind cybercrime can be a helpful thought experiment to help CFOs allocate appropriate resources to cyber defenses.
