Travelex Paid $2.3 Million in Bitcoin Following Ransomware Attack

Michael LaVere
  • Foreign exchange giant Travelex paid hackers $2.3 million in BTC following January's ransomware attack.
  • Travelex's website, application, and internal network were forced offline as a result of the attack. 

Foreign exchange company Travelex paid hackers $2.3 million in bitcoin to regain access to their network following a ransomware attack. 

According to a report by the Wall Street Journal, London-based Travelex paid hackers 285 BTC after being advised by experts on how to handle the ransomware attack. The report claims Travelex was in communication with regulators and partners throughout the course of the ransom and confirmed the original attack when it occurred on New Year’s Eve. 

While Travelex had yet to disclose the amount of ransom paid, the WSJ report claims the amount was over $2.3 million in order to regain access to its computer systems. The foreign exchange company originally blamed the attack on the malware Sodinokibi, which publishes stolen data from companies who refuse to pay the ransom. 

Travelex, which operates the world’s largest chain of foreign exchange offices and kiosks, had its business crippled throughout most of January. The company’s website, application and internal network were taken offline as a result of the ransomware attack, which included an interruption in cash deliveries to major UK banks. 

London’s metropolitan police are continuing to investigate the source of the ransomware attack and uncover the identities of the hackers behind it. 

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