Jest Ransomware and Magellan Health Ransomware stories

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Jest Ransomware which infected few servers in a prominent company was encountered efficiently by a decryption tool developed by the researchers at the IBM X Force Incident Response and Intelligence Services (IRIS).

Therefore, this made the victimized company avoid paying a ransom of 0.3 BTC(~$20,360) in exchange for the decryption key.

IBM X- Forces IRIS claims that there is no proof that the hackers spreading Jest Ransomware had developed a decryptor that would have successfully restored files after getting the demanded ransom. So, the decryption tool developed by IBM for Jest Ransomware would prove as a boon to victims.

In the second news related to ransomware, Magellan Health which claims to be America’s Number 1 health insurer is reported to have become a victim of a ransomware attack on April 6th this year.

The company which was listed in Fortune 500 Insurance companies recently admitted that it also became a victim of a data breach on the said date as the hackers stole some sensitive information including login credentials, passwords, names, addresses, and employee ID numbers from the company servers after which they encrypted the files stored on the servers.

Magellan Health discovered the cyber incident on April 11th and took immediate measures to contain the malware spread.

Cybersecurity Firm Mandiant was pressed into service to investigate the incident and Prima Facie states that the attack was launched through a phishing email targeting an individual from a company.

FBI was also informed about the incident by Magellan after which it implemented additional measures to bolster its current Cybersecurity plan.