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Ransomware Boom Forces More Companies to Cut Deals With Criminals

Written by External Author | May 20, 2021 12:45:00 PM

Kurtis Minder got into the ransomware negotiation business by accident early last year.

The startup he co-founded, GroupSense Inc., monitors dark web forums and chat groups to see when hackers sell access to businesses’ computer networks. After Mr. Minder’s firm told a software company that criminals appeared to have targeted it, the company asked GroupSense to talk down the attackers from an initial demand of more than $1 million to unlock internal data they had encrypted with ransomware. The two sides settled on a roughly $200,000 payout, he said.

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