As technology has advanced in recent years, cyber-ransom has become more and more common. Brenntag Distribution Company was a recent target of one of the cases. After successfully stealing 150 GB of data from the business system, the hacker group sought $ 7.5 million in Bitcoin. The occasion happened in May 2021. Despite the hackers being highly skilled at what they did, the disaster could have been avoided. Due to the company’s size and abundance of data, one of the actions would be that it should have kept the system and its software up to date to ensure that bad individuals couldn’t access the system and steal the data.
The attacker, DarkSide, demanded a ransom, which Brenntag consented to pay. According to reports, the payment was completed on May 11, 2021. To ensure the security of its clients and other stakeholders, the company that had its information stolen decided to pay (11 Alive, 2021). Brenntag and DarkSide, a company that gains from ransomware attacks, engaged in negotiations that resulted in the agreement to pay.
The choice to pay was moral because the business had previously had a sizable amount of data taken from the system that might have been utilized for some nefarious purposes. The relationship between the company and the consumer would only be protected if the company’s clients were guaranteed a certain level of security concerning their data. The company was weak. Thus, it was only fair that they paid the price for not installing a system that would be entirely impervious to threats that would cause the data to fall into the wrong hands (Westbrook, 2021). Although it may be claimed that the DarkSide’s actions were unethical, it was not their duty to secure the firm’s information; therefore, in principle, it was only fair to pay them the ransom, and the corporation put safeguards in place to protect the system.
Westbrook, A. (2021). A Safe Harbor for Ransomware Payments: Protecting Stakeholders, Hardening Targets, and Defending National Security. New York University Journal of Law and Business, Forthcoming.
11 Alive. (2021, May 19). Colonial Pipeline CEO opens up about why he felt they had to give a $4.4m ransom payment to hackers. YouTube. Retrieved April 26, 2022, from https://www.youtube.com/watch?v=T1qGalm-LuM
We’ll write everything from scratch
After watching the Wall St. Journal video with the Colonial Pipeline CEO, and reading the Law360 Expert Analysis article on how to manage cyber risk, do the following:
- Conduct Internet research and identify a company that was recently held for Cyber-ransom of any kind.
- Identify the company, why it was held ransom & what could/should have prevented it.
- Did the company pay a ransom?
- Who was responsible for the decision to pay/not pay?
- Was the decision to pay ethical? (To pay or not to pay)
"Place your order now for a similar assignment and have exceptional work written by our team of experts, guaranteeing you A results."