- Einhaus Group decreased from 170 employees and € 70 million in revenues to only eight workers
- The German telephone company met with its destination after battle months
- Bitcoin’s rescue recovered but never returned
The German mobile phone insurance company, repair and logistics Einhaus Group has revealed the financial scope of a 2023 ransomware attack against the company.
At its peak, Einhaus operated in more than 5,000 German retail stores, associating with the main telecommunications companies such as Deutsche Telekom and 1 and 1, generating units at € 70 million in annual income.
Then, in 2023, a ransomware group with the name of the ‘real’ infiltrated systems and the critical data encrypted, including contracts, billing and communications, leaving the company fighting to invent losses thereafter.
Einhaus from Germany effectively eliminated by a ransomware attack
The attackers left messages through office printers warning that the company had been pirate (through Washington), stop operations with blocked systems. In the months that followed, the company lost millions in revenues and operational delays, which generated total damage in the range of figures of mid -seven.
According to reports, the company also paid a great rescue of € 200,000 in Bitcoin to recover access to critical data.
Since then, German investigators of cyber crimes have identified three suspects, and although public prosecutors confiscated the cryptography paid for rescue, was never returned to Einhaus, which prevented the company from recovering more.
Since the ransomware attack, Einhaus has been forced to reduce the personnel of a peak of around 170 to only eight, selling properties and investments to represent some losses.
Three companies under the Einhaus group, including 24 logistics, have now requested insolvency, and mobile phone repair services have been discontinued.
Since cyber attacks not only become more common, but often more expensive, the Einhaus group is part of a growing list of companies forced to close as a result of ransomware attacks, including the Knights of the United Kingdom of Old Transport Company, Stoli USA and Vastamo Finland.
