Ransomware attack on Vermont based Wendell’s Furniture

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In July this year, Vermont based Wendell’s furniture is reported to have become a victim of ransomware attack. It’s said that hackers succeeded in stealing sales info from the past 8 years and that includes customer names, addresses, phone numbers, and email addresses.

Ryan Farrell, the President of Wendell’s Furniture has confirmed the news and said that the company never experienced a digital attack of this sort in the past 20 years of business.

Mr. Farrell confirmed that no credit card info was compromised in the attack and cybersecurity experts have been pressed into service to analyze the situation.

The business at Wendell’s is open to customers as usual. But the online services will be slow for a while.

Note- Customers who purchased their furniture from Wendell’s through Synchrony Finance may have had their account numbers compromised. They are being contacted personally and more details on how to proceed, if they happen to be one of the unfortunate victims are being informed to them via email.

Meanwhile, a new report compiled by RiskIQ in 2018 says that 1.5 organizations fall prey to ransomware attacks every minute and so more than $1 million has been witnessed in loss each minute due to cybercrime.

The report also found that cybercrime costs businesses $600 billion each year, out of which ransomware attacks incur $8 billion loss to corporations per year, or more than $15,000/ minute.

RisqIQ survey confirms that as business organizations start rolling out new and innovative digital strategies and initiatives, they also tend to expose their digital assets to scores of malware, phishing, crypto mining and malvertising in parallel. The company noted that the instances of cybercrime has gone up since last year and can only be curtailed if companies do more to protect themselves and their clients from all kinds of threats prevailing in the current cyber landscape.

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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