- Nubeva Technologies (NBVA) has successfully thwarted two live ransomware attacks by Conti and REvil
- An Architecture, Engineering, and Construction company was ransomed by REvil
- The company successfully decrypted the REvil ransomware
- A Healthcare company was attacked by Conti, a leading Russian-based ransomware
- The company deployed Nubeva’s solution to contain the attack, and to protect against reinfection during the data-restoration phase of the project
- Nubeva develops and licenses B2B software with a focus on ransomware
- Nubeva Technologies Ltd. (NBVA) is up 2.25 per cent on the day, trading at C$0.91 per share at 10:15 am ET
Nubeva Technologies (NBVA) has successfully thwarted two live ransomware attacks by Conti and a new version of REvil.
In the first case, a mid-size company in the Architecture, Engineering, and Construction (AEC) industry was ransomed by REvil. REvil, responsible for Colonial Pipeline, was arrested in January 2022 as a part of a multinational effort supported by the Russian government. There have been rumoured reports of their reemergence due to the Russian-Ukrainian conflict. Steve Perkins, CMO at Nubeva, commented on the news.
“Despite the recent investments in next-generation firewalls and endpoint protection software, the organization had been ransomed multiple times in the past two years, each with escalating ransom demands and damages totaling in the millions. The customer bought Nubeva as a backstop should it happen again,” said . “When we got our hands on the sample, we validated that it was in fact, a brand-new variant of REvil, confirming the gang’s rebirth. The great news is, we decrypt REvil, including this new version sight unseen, protecting customers, and proving the power of our technology.
In the second event, a Healthcare company was attacked by Conti, a leading Russian-based ransomware. The IR firm deployed Nubeva’s solution to contain the attack, and to protect against reinfection during the data-restoration phase of the project.
“This engagement is extremely exciting for us as it points to new use cases that expands our value and market. In this case, the customer needed to restore from very recent backups to minimize data loss. But in doing so, they knew they could re-introduce an active threat into their environment,” Perkins said.
“Nubeva was the safety net against re-attack while also providing essential forensic data to identify and remove the threat. The result is dramatically faster recovery with the least amount of data loss. This is powerful. We provide ultimate value if you install us before an attack, but we also can add material value to improve recoveries even if we are brought in after the fact. We will be taking these findings to the IR industry to replicate this value and success.”
Nubeva develops and licenses B2B software with a focus on ransomware. The company’s SKI technology enable advanced decryptions solutions including ransomware reversal. The company licenses its software to end-user enterprises, managed security service providers, incident responders, and cybersecurity and application solution manufacturers.
Nubeva Technologies Ltd. (NBVA) is up 2.25 per cent on the day, trading at C$0.91 per share at 10:15 am ET.
