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Change Healthcare's Ransomware Attack Costs Edge Toward $1 Billion So Far
UnitedHealth, parent company of ransomware-besieged Change Healthcare, says the total costs of tending to the February cyberattack for the first calendar quarter of 2024 currently stands at $872 million. From a report: That's on top of the amount in advance funding and interest-free loans UnitedHeal...
UnitedHealth, parent company of ransomware-besieged Change Healthcare, says the total costs of tending to the February cyberattack for the first calendar quarter of 2024 currently stands at $872 million. The remediation efforts spent on the attack are ongoing, so the total costs related to business disruption and repairs are likely to exceed $1 billion over time, potentially including the reported $22 million payment made to the ALPHV/BlackCat-affiliated criminals behind the attack. It's a charge that eclipsed that of casino group MGM, which didn't pay a ransom following an attack on its systems last year, and which faces recovery costs of $100 million to rebuild its systems and paying for the fallout from outages, operational disruptions, allegedly leaked data and more.
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