- Einhaus Group fell from 170 employees and 70 million euros in revenue to only eight workers
- The German telephone company met its fate after months of fighting
- Bitcoin -løse money was recovered but never turned back
The German mobile phone insurance, repair and logistics company Einhaus Group has revealed the financial extent of a 2023 -ransomware -attack on the company.
At his highest, Einhaus operated in over 5,000 German retail stores and collaborated with major telecommunications companies such as Deutsche Telekom and 1 & 1, generating units for 70 million euros in annual revenue.
Then, in 2023, a ransomware group called ‘Royal’ infiltrated systems and encrypted critical data, including contracts, invoicing and communication, thereby struggling to pose losses.
Germany’s Einhaus effectively taken down by a ransomware -attack
The attackers left messages via office printers warning that the company had been hacked (via Wa), which brings operations to stop with systems locked. In the months followed, the company lost millions in revenue and operational delays and brought overall damage into the middle of seven figures.
The company also reportedly paid a large ransom of € 200,000 in Bitcoin to regain access to critical data.
German cybercrime sub-subsequently has identified three suspects since, and while public prosecutors seized the ransom-paid crypto, it was never returned to Einhaus that blocked the company in making a fuller improvement.
Since the Ransomware attack, Einhaus has been forced to cut down on the main number from a highlight of about 170 to only eight, which has sold property and investments to pose some losses.
Three companies under Einhaus Group, including 24logistics, have now filed insolvency and mobile phone repair services have been interrupted.
As cyberattacks not only become more common but often more expensive, Einhaus Group forms part of a growing list of companies that are forced to shut down as a result of ransomware attacks, including Britain’s knights of the old transport company, Stoli USA and Finland’s Vastaamo.
