SolarWinds spends $19m to remediate affects of Cyber Attack

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SolarWinds Hack 2020 seems to be a never-ending saga as daily some sort of development or revelation is being made in relation to the cyber incident. The latest is that the company spent between $18 million to $19 million to remediate the effects caused by the breach since December 2020.

Going forward the company made it official on Tuesday that it has spent the above said amount in the 1Q of 2021 to investigate and remediate what it officially described as “the cyber incident”.

To those uninitiated, in 2020 Russian hackers reportedly breached the servers of SolarWinds software to compromise Orion software tools that were used by multinational companies worldwide as network management tools.

After researchers from FireEye revealed the hack in December 2020, SolarWinds hired forensic experts from CrowdStrike Holdings and KPMG to investigate the incident deeply.

So, till date the company is said to have spent nearly 19 million for paying the experts, the revenue loss incurred because of the business downtime, for buying new hardware and software to prevent such incidents in the future.

Meanwhile, recent developments suggest that the company seems to have indeed taken the incident seriously as it hired Chris Krebs of US CISA and Alex Stamos, the CSO of Facebook to review the company Cybersecurity posture. Within a couple of days, Chris is said to have helped the company with his experience in blocking all backdoored versions of the Orion network management software tools with the help of other technical experts.

Note 1- Krebs was the first official to be fired by former US President Donald Trump as he refuted the claims made by the trump administration that a foreign nation highly influenced the 2020 US election results.

Note 2- Palo Alto Networks Unit 42 has proclaimed that it will support all the companies that were targeted by hackers by exploiting SolarWinds Orion Software and the response team has been assigned the name of Solar-Storm Rapid Response team.

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