, Columnist
Attack on Travelex Has Alarming Implications
Losses from ransomware incursions like the one at Travelex are increasing, even as the number of incidents is falling. That’s a worrying sign.
Money troubles.
Photographer: BloombergThis article is for subscribers only.
As ransomware attacks go, the cyber intrusion at Travelex that emerged on New Year’s Eve could have lasting consequences — and ones that shouldn’t be just a worry to the currency dealer.
Travelex, known mostly for its airport shops and ATMs, was forced to resort to manual dealings and handwritten receipts for foreign exchange sales as it took systems offline to prevent the malware Sodinokibi, also known as REvil, from spreading. Core activities were crippled or halted altogether during what would have been busy trading days, across dozens of countries.