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Travelex reportedly paid millions to hackers after ransomware attack.

Updated: May 1, 2023

"Travelex reportedly paid hackers $2.3 million to regain access to its own computer systems after they were compromised in a ransomware attack that was discovered on New Year’s Eve.

Ransomware is malicious software that locks a computer system by encrypting files. Once locked, hackers demand payment from the owner of the system in return for a decryption key to regain access to the data.

The world’s largest foreign-exchange provider paid the money in the form of Bitcoin, according to a source with knowledge of the matter who spoke to the Wall Street Journal. When details of the ransomware attack were made public in early January, reports suggested the hackers were demanding $6 million, a figure substantially higher than what Travelex has apparently paid."

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