British jewelry brand paid hackers $7.5 million in ransom
The British jewelry brand Graff Diamonds paid $ 7.5 million to hackers in the form of a ransom. The attack took place in September last year. The company claims to have encountered cybercriminals from the Conti. Group-IB described it as a "criminal IT company", which has salaries, vacations and a personnel department, and employees call themselves patriots of Russia.
According to a Bloomberg report, Graff Diamonds Corp sued its insurance company, The Travelers Companies Inc., for damages in connection with extortion, claiming that the payment should have been covered by their policy. The insurance company, for its part, refuses to pay the jewelry house.
In September, the Russian-based ransomware group Conti released data on the client base of the luxury diamond manufacturer, which includes members of the royal family of the Middle East. In an unusual move for the hacker group, Conti apologized to the families, but threatened to reveal more Graff data.
Cybercriminals threatened to publish information about private purchases of Graff customers, so the company was "determined to take all possible steps" to protect their interests, a representative of the British jewelry brand told Bloomberg. Therefore, the company agreed on a payment that neutralized the threat, he added. Graff is disappointed with the attempt of The Travelers Companies to avoid covering the amount paid and he had no choice but to go to court, the Bloomberg interlocutor added.
https://coin-signal.com/cryptonews/british-jewelry-brand-paid-hackers-7-5-million-in-ransom/
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