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Mircom Technologies Ltd. (A): Responding To A Ransomware Attack
In September 2019, Mircom Technologies Limited faced a serious crisis after sustaining a ransomware attack. The medium-sized manufacturer based in Toronto, Canada had been offering smart building solutions for almost two decades. The attackers encrypted all of the company's data, halting all business systems and processes that relied on information technology, including email, voice-over-Internet phones, manufacturing, billing, shipping, and receiving. The company was suddenly unable to conduct basic business operations. The attackers demanded a large payment in bitcoin in exchange for a decryption key that would allow the company to access its data. Over the next several weeks, Mircom Technologies Limited faced unforeseen challenges in its attempt to recover its data, negotiate with the attackers, and eventually find a way to successfully restore normal operations.