Currency trader Travelex suffers cyberattack with the attackers holding its systems for ransom, forcing the company to take all its systems offline
The spread of the ransomware, which Travelex said it had successfully contained, forced the company to take all its systems offline, causing chaos for New Year holidaymakers and business travellers seeking online currency services.
But the incident sent the company’s shares slumping almost 20% to a record low on Wednesday, a drop exacerbated by two major investors selling shares worth about $72 million in the payments firm. A spokeswoman for HSBC said its UK bank branches held some euro and dollar stock for immediate purchase but it was unable to take travel money orders. Barclays apologised to its affected customers and said it would restore service “as soon as it was able to do so”.
Neither Finablr nor Travelex provided any detail on the costs of handling the incident so far but Finablr said it did not currently expect to suffer any material financial impact from the incident.
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