Ransomware Attacks – Is There Harm Even When Nothing Is Stolen?

In November 2020, accounting and consulting firm Nexia Australia (Nexia) was alerted to a "REvil" ransomware attack taking place within its system. The attackers threatened to post personal information of Nexia's clients, customers and staff online unless it paid a $1m ransom within 72 hours.

It was reported that the hackers appeared to have posted Nexia's confidential files onto the dark web; however, further investigation revealed that the hackers had merely posted screenshots of Nexia's files. Realising this, Nexia dismissed the threat and refused to pay the ransom.

But it didn't end there.

Shortly after the attack, a news service found the Nexia file screenshots on the dark web and publicised that the company's confidential information had been stolen and shared. Not only did Nexia have to reassure panicking clients that their confidential information remained uncompromised, it had to convince the Australian Securities and Investments Commission, the