Jan 29 2025

The $75 Million Secret: How a Fortune 50 Company Paid to Hide a Massive Cyberattack

Category: cyber security,Security programdisc7 @ 10:02 am

A Fortune 50 company recently made the largest known ransomware payment—a staggering $75 million—to the Dark Angels ransomware gang after 100 terabytes of data were stolen. Surprisingly, the company did not disclose the attack, even though SEC regulations require public companies to report significant cyber incidents. Unlike typical ransomware cases, the company’s systems were not shut down; they paid purely to keep the data private, highlighting the immense value organizations place on reputation.

Many companies choose to silence cyberattacks out of fear—concerned that disclosure could lead to customer loss, stock declines, and lawsuits. Executives often believe they won’t be targeted, treat each attack as an isolated event, or try to downplay incidents. Even with stricter SEC rules, businesses are finding ways to disclose as little as possible, fueling a cycle where ransom payments encourage more attacks.

This quiet ransom-paying culture increases risks across industries, making companies more attractive targets. Hackers are incentivized to continue their attacks, knowing that major corporations would rather pay up than risk public fallout. The more companies cave to these demands, the more cybercriminals are emboldened.

The solution? Proactive cybersecurity investments to build resilience before an attack happens. However, as history shows, preventive measures are a hard sell—many organizations react only after a crisis, rather than prioritizing security before disaster strikes. Breaking this cycle requires a mindset shift toward long-term cyber preparedness over short-term damage control.

Mastering Cyber Detection Engineering: A Comprehensive Guide to Proactive Cybersecurity

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Tags: Proactive Cybersecurity

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