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Ransomware Crisis: Schools Paying Millions, IT Costs Soaring
Ransomware attacks are costing educational institutions millions. With over 44% of schools facing ransom demands up to $5 million, the impact on IT infrastructure and recovery efforts is monumental. Sophos reports highlight the urgent need for bolstered cybersecurity to combat these rising threats.
Hot Take:
Educational institutions are learning an expensive lesson in cybersecurity: ransomware attacks are the new schoolyard bullies, demanding lunch money from schools and universities to the tune of millions of dollars. Maybe it’s time to add “Hacker Defense 101” to the curriculum!
Key Points:
- Ransomware attacks are driving up IT costs for educational institutions.
- 44% of schools in 14 states faced ransom demands of $5 million or more.
- 35% of institutions paid over $5 million to regain encrypted data.
- Largest ransom paid by an educational entity was $6.6 million.
- Recovery time from attacks has increased due to disruptions in backup systems.
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