31 Aug ‘Time-Travelling’ Software Could Bankrupt Hackers
This week in cybersecurity from the editors at Cybercrime Magazine
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Sausalito, Calif. – Aug. 31, 2024
Ionir, developers of a cloud-based data services platform, with offices in New York and Tel Aviv, says it has created a cutting-edge data storage system that allows users to “go back in time” and retrieve data held hostage by hackers.
In an interview with National Security News, Ionir’s CEO Jacob Cherian spoke about the company’s unique way of thwarting ransomware attacks.
Newsweek reports that ransomware will cost victims an estimated $265 billion annually by 2031, according to Cybersecurity Ventures, with attacks on individuals or organizations occurring every two seconds on average.
Ionir believes its ability to restore data to the moments before it was stolen or corrupted could make such devastating attacks a thing of the past. “Any data that’s stored with us, you can go back in time and get the data back the way it was the second before. We can actually replay the way your data was from any second in the past,” Cherian said.
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