SAN JOSE, Calif., June 07, 2022 (GLOBE NEWSWIRE) -- Nubeva Technologies (TSX-V: NBVA, OTC: NBVAF) announces success in two live ransomware attacks by Conti and a new version of REvil . Nubeva's Ransomware Reversal decrypts ransomware without negotiating or paying for ransomware keys and decryptors. Users recover faster, easier, and with less data loss than paying ransoms or restoring from backups with an overall reduction in recovery costs and damages due to downtime.
In the first case, an existing Nubeva customer, 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 rumored reports of their reemergence due to the Russian-Ukrainian conflict.
“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 Steve Perkins, CMO at Nubeva. “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. Nubeva was brought in by the incident response (IR) company selected for response and recovery. The IR firm deployed Nubeva’s solution first, to contain the further expansion of the attack, and second, 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.” Perkins concluded.
Additional details of the customers, the events, and recoveries are being held in confidence by customer request.
Nubeva Ransomware Reversal, released in Q1, 2022, is the NextGen solution for faster and lower cost recovery from ransomware attacks. Nubeva markets its software subscriptions to businesses and organizations directly and through a growing list of resellers, MSSP (managed security service providers), and IR (Incident Response) partners.
Learn more about Nubeva’s Ransomware Reversal here
About Nubeva Technologies Ltd.
Nubeva develops and licenses B2B software for next-generation cybersecurity solutions with a focus on ransomware. The company’s patented and awarding winning SKI technology enable advanced decryptions solutions including ransomware reversal - the ability to decrypt and quickly recover from ransomware attacks without paying the ransom, and TLS Visibility - the ability to universally decrypt TLS/SSL network traffic enabling deep packet inspection for cybersecurity and application assurance applications. The company licenses its software to end-user enterprises, managed security service providers, incident responders, and cybersecurity and application solution manufacturers.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the cybersecurity industry. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments, and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release, and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations, or statements made by third parties regarding the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
