Stocks of cybersecurity-focused companies, including FireEye (FEYE) – Get the report, Palo Alto Networks (PANW) – Get the report, CrowdStrike (CRWD) – Get the report and Check Point software (CHKP) – Get the report Won on Tuesday after a weekend cyber attack on software provider Kaseya in which Russian hackers demanded $ 70 million for data recovery.
FireEye shares rose 1.77% in pre-trading hours, while shares of Palo Alto Networks, CrowdStrike and Checkpoint Software were also higher after hackers affiliated with Russia reportedly launched the massive cyberattack.
The hack is the latest and most dramatic in a series of high-profile ransomware attacks this year that expose the pandemic threat this type of cybercrime poses to businesses and governments.
According to CNET, hundreds of companies have been directly hit by the supply chain attack on Kesaya VSA software, which provides IT services for small and medium-sized businesses. At least 36,000 companies were indirectly affected.
According to The New York Times, Coop, one of Sweden’s largest grocery chains, had to close 800 of its stores.
The $ 70 million ransomware demand was posted on a dark web blog typically used by REvil, the Russia-related cybercrime behind the attack which paralyzed the US meat processing company JBS Meat (JBSAY) .
Colonial pipeline earlier this year had to stop operating along its entire 5,500 mile line that carries gasoline and other fuels from the Gulf Coast to the New York metropolitan area after it was hit by a cyberattack known as Malware Monday.
It paid a $ 5 million ransom to get its systems working againeven though the Justice Department last month said it got back most of the ransom payment from Colonial Pipeline, which was paid for in Bitcoin.
FireEye’s shares rose 1.77% in pre-trading hours to $ 20.70. Palo Alto Networks shares rose 0.52% to $ 374.75, while Crowdstrike shares rose 0.56% to $ 254. Check Point Software was up 0.05% to $ 117.
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