Author/Source: Bitdefender Hotforsecurity See the full link here
Takeaway
This article explains how Travelex, a currency exchange company, faced a cyber attack. After paying the hackers to get their systems working again, the company apologized to its customers and donated a large amount of money to support internet security research.
Technical Subject Understandability
Beginner
Analogy/Comparison
Imagine a store gets robbed and pays money to get its goods back. Then, the store owner decides to donate a lot of money to the police department to help them catch future robbers and prevent more crimes.
Why It Matters
This story is important because companies usually keep it secret when they pay hackers or make such big donations. Travelex’s choice to be open and give money to fight cybercrime could encourage other companies to do the same. For example, Travelex’s systems were down for weeks after the attack, which greatly affected customers who needed to exchange money. Their donation aims to help prevent similar issues for other businesses.
Related Terms
ransomware attack, ransom, cybersecurity research. Jargon Conversion: A ransomware attack is when hackers block a computer system and demand money to unlock it. Ransom is the money hackers demand to give back access to a system. Cybersecurity research involves studying and working to protect computers and online systems from these attacks.
Tech Teacher 
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