Exchange firm Travelex resorts to hard copies after ransomware attack

Foreign currency exchange firm Travelex has been forced to resort to recording transactions with pen and paper after falling victim to a ransomware attack by hackers on New Year’s Eve. Police are investigating.

The company has released a statement on their website saying that some of its services were “compromised” and so, as a precaution, “immediately took all our systems offline [in order] to protect data and prevent the spread of the virus.”

The firm claims that “no personal or customer data has been compromised.”

Screenshot of Travelex website.

However, Sky News is reporting that individuals claiming to be affiliated with the company have told journalists that information was stolen from the firm’s networks, and could be published online if the ransom isn’t paid.

Tech news outlet BleepingComputer claims that hackers were demanding US$3 million from the foreign exchange company, to be paid within seven days of the attack, or they would post all of the information they had allegedly stolen online.

Ransomware is a very common method used by hackers to make cash out of their victims’ computer networks. The malicious software encrypts files to make them inaccessible to the rightful user, with hackers demanding a payout in exchange for a ‘key’ that will decrypt the files.

The Metropolitan Police released a statement on Travelex, revealing that their cyber crime team is making enquiries "with regards to a reported ransomware attack.”

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