- The Einhaus group has gone from 170 employees and 70 million euros in income to only eight workers
- The German telephone company met its fate after months of battle
- Bitcoin ransom has been recovered but never returned
The German Company of Insurance, Repair and Logistics of Mobile Telephone Einhaus Group revealed the financial extent of a ransomware attack in 2023 against the company.
At its peak, Einhaus worked in more than 5,000 German retail stores, in partnership with large telecommunications companies like Deutsche Telekom and 1 & 1, generating units to 70 million euros in annual income.
Then, in 2023, a group of ransomware named infiltrated “royal” systems and encrypted critical data, including contracts, billing and communications, letting the company fight to compensate for the losses thereafter.
Germany Einhaus has actually eliminated by a ransomware attack
The attackers left messages via office printers warning that the company had been hacked (via Washington), putting the operations to stop with locked systems. During the months that followed, the company has lost millions of delays and operational delays, providing a total of damages in the middle of seven figures.
The company would also have paid a large ransom of € 200,000 in Bitcoin to find access to critical data.
German cybercrime investigators have since identified three suspects, and although prosecutors have seized the crypto paid by the ransom, it has never been returned to Einhaus, which prevented the company from recovering a more complete recovery.
Since the attack on ransomware, Einhaus has been forced to reduce the workforce by a peak from around 170 to only eight, selling goods and investments to compensate for certain losses.
Three companies in the Einhaus group, including 24Logistics, have now applied for insolvency, and the mobile phones repair services have been interrupted.
Cyberattacks becoming not only more and more common, but often more expensive, the Einhaus group is part of a growing list of companies forced to close as Ransomware attacks, including the British company Knights of Old Transport, Stoli USA and Vastaamo from Finland.
