The title of this blog should be a joke but unfortunately most comedy is based on pain, and nefarious bad actor Hackers have turned ransomware into the 20 billion dollar business this year, according to Cybereason. C - level executives who are victims of Ransomware face the very unfunny and tough choice of either paying off the ransomware or losing business everyday while operational costs continue to soar. Unfortunately it's not only loss of business as result of ransomware, 32% of C-level executive loose their own jobs as a direct effect of the attacks.
Hackers have gotten increasingly creative in their approach. According to our CTO George Ludwig, there are now four standard attack vectors: encryption, data theft, denial-of-service, and harassment. If they can’t crack your security, they’ll try to brute-force your network or harass your clients.
With every extra day of down time costing your business reputation and revenue it is no surprise that many executives choose to ‘pay away the ransom’ option. Even if your board of directors wanted to pay the ransom on day one, it would take nearly two to three weeks through the usual channels just to connect your company to a reliable source of respective crypto assets for payment. If you are a large and well-known organization, you may be able to speed that process up but not by much. You’ll also face additional brand reputation risks by publicly purchasing crypto assets through the normal channels such as large exchanges.
This is where STRI Labs, a company dedicated to onboarding and advising businesses into the crypto economy comes in. We are the crime scene cleansers of Ransomware enabling you to quickly get back to business. We help you securely pay the ransom in crypto directly to the target wallet and help you get back to business.
STRI Labs was founded by seasoned technology executives and the next generation of innovators in design and finance with the goal of bringing Safety, Trust, Reputation and Identity (STRI) to the crypto economy. Our mission is to help businesses prepare and navigate the crypto economy. We hope to retain businesses who come to us in the unfunny pain of ransomware and successfully navigate the new crypto economy together.