London-based company, Travelex, suffered a ransomware attack on January 11, 2020, and recently it paid around $2.3 million in Bitcoin to the attackers.

On April 09, 2020, The Wall Street Journal <a href="https://www.wsj.com/articles/travelex-paid-hackers-multimillion-dollar-ransom-before-hitting-new-obstacles-11586440800?mod=tech_lead_pos2" target="_blank" rel="noopener">reported</a> that in the new years eve the hackers attacked the firm’s network and injected ransomware.

Travelex has a chain of foreign-exchange kiosks around the world, these exchanges are located at the airports and at the tourist sites.
<h2>Travelex Did Not Give Full Information</h2>
A few days after the Travelex network was attacked, it informed the press. But the firm did not tell the media that it has paid around 285 BTC as a ransom.

Earlier this year, the malware attack named Sodinokibi or REvil started exposing the data that it has stolen from companies like CDH Investments and Travelex.

According to a report, amidst the outbreak of COVID-19 pandemic, the hackers are more active on the network and because of which the employees of many companies have to keep on working while they are at home.

The reason for cybercriminals being more active is that many of the companies, currently, are not able to monitor their networks carefully because of this widespread lockdown which took place after the outbreak of pandemic and gives an opportunity to hackers to do their work.
<h2>Paying Ransomware Is Not Illegal In UK</h2>
The WSJ when contacted the spokesperson of Travelex, it got to know that the investigation is still on by the British authorities. When the spokesperson was being questioned further regarding the issue, it denied commenting on the matter.

A report suggests that in the United Kindom, paying the ransom is not illegal. But most people in the country do not belives in paying, says the U.K.’s National Crime Agency. It further explains that the victims do not want to encourage or motivate the hackers in this crime, therefore, for most of the time they (victims) opt for not paying the ransom.

You May Also Read.
<ul>
 	<li style="font-weight: 400"><a href="https://www.cryptoknowmics.com/crypto/fca-retracts-official-warning-against-kraken/">FCA Retracts Official Warning Against Kraken</a></li>
 	<li style="font-weight: 400"><a href="https://www.cryptoknowmics.com/crypto/fca-hits-on-kraken-says-its-unauthorized-to-operate-in-uk/">FCA Hits on Kraken; Says It’s Unauthorized to Operate in UK</a></li>
 	<li style="font-weight: 400"><a href="https://www.cryptoknowmics.com/crypto/uks-fca-increases-cryptocurrency-business-registration-fee-to-10000/">UK's FCA Increases Registration Fee For Crypto Businesses To £10000</a></li>
</ul>

Travelex Pays $2.3 Million In Bitcoin To Its Network Hacker

London-based company, Travelex, suffered a ransomware attack on January 11, 2020, and recently it paid around $2.3 million in Bitcoin to the attackers.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Travelex Pays $2.3 Million In Bitcoin To Its Network Hacker

Top Picks