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Another one bites the dust: Avaddon ransomware group shuts down operation

Malwarebytes

While various sectors in Australia were noted to be particularly targeted, the Avaddon strain has been instrumental in the successful network compromise of the Asian division of the AXA Group , one of the biggest cyber insurance companies in the world.

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The Pain of Double Extortion Ransomware

Thales Cloud Protection & Licensing

As part of double extortion attacks, tactics often include the threat of DDoS attacks. Many victims wind up paying a fraction of that amount, as they may be able to negotiate these charges down or rely on cyber insurance coverage to cover a portion of these costs.