Report: Garmin Paid Multimillion-Dollar Ransom to Hackers

A ransomware attack by a group of Russian hackers called “Evil Corp” that knocked out Garmin Ltd.’s operations in late July reportedly resulted in a multimillion-dollar ransom paid by the Olathe-based company.

Garmin (Nasdaq: GRMN) has not confirmed that it paid the ransom after the WastedLocker attack, but BleepingComputer says it confirmed that the company received the decryption key, The Motley Fool reports. Paying the ransom could have violated U.S. sanctions against Evil Corp, which officials say works directly with Russian intelligence.

Garmin told… READ MORE @ Biz Journals