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Travelex paid $2.3M in Bitcoin to get its systems back from hackers

Hackers controled its networks for more than a month

Hacker ransomware bitcoin

Travelex paid hackers $2.3 million worth of Bitcoin BTC to regain access to its computer systems after a devastating ransomware attack on New Year’s Eve, reports the Wall Street Journal.

The London-based company said it decided to pay the 285 BTC based on the advice of experts, and had kept regulators and partners in the loop throughout the recovery process.

Although Travelex, which manages the world’s largest chain of money exchange shops and kiosks, did confirm the ransomware attack when it happened, it hadn’t yet disclosed a Bitcoin ransom had been paid to restore its systems.

Travelex previously blamed the attack on malware known as Sodinokibi, a ‘Ransomware-as-a-Service’ tool-kit that has recently begun publishing data stolen from companies that don’t pay up.

Travelex‘ operations were crippled for almost all of January, with its public-facing websites, app, and internal networks completely offline. It also reportedly interrupted cash deliveries to major banks in the UK, including Barclays and Lloyds.

At the time, BBC claimed that Travelex‘ attackers had demanded $6 million worth of Bitcoin to unlock its systems.

Investigations into the identity of the attackers continue, spearheaded by London’s metropolitan police.

Published April 9, 2020 — 17:01 UTC