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Leading phone repair and insurance firm collapses after paying crippling ransomware demand — Cutting 100+ employees to just eight wasn’t enough
The Einhaus Group was once a familiar name, with its services available through 5,000 retail outlets in Germany and an annual revenue of around 70 million Euros.
However, the once large and successful company, with partnerships including Cyberport, 1&1, and Deutsche Telekom, struggled to recover from the service interruption and the obvious financial strains, which now appear to be fatal. (Image credit: Einhaus-Gruppe GmbH on Facebook) Wounded by the financial impacts of the loss of business and the ransom payment, Einhaus Group went forward with several drastic actions. In addition to any satisfaction that the likely ‘Royal’ perpetrators would face justice, the public prosecutor's office seized “crypto assets in the high six-figure euro range,” according to news sources in Germany.
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