This year, a group of hackers launched a ransomware attack on Colonial Pipeline, an American oil pipeline company. As a result, the company shut down over 5,000 miles of pipeline, disrupting fuel supply and airline operations on the East Coast. The company paid $5M in ransom to restart
This isn’t a rarity. There have been 175 publicized ransomware attacks in 2021 alone. Studies estimate cybersecurity costs to reach $6 trillion this year, with data breaches costing enterprises $8.64 million, on average. There are newer and more complex cybersecurity threats arising each day.