Pharmaceutical Distributor Cencora Pays $75 Million in Bitcoin Ransom to Hackers, Setting a Record for Cyber Extortion

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September 18, 2024
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PANews reported on September 18th that hackers who launched a cyberattack on drug distributor Cencora Inc. received a total of $75 million, according to Bloomberg, citing sources. The ransom for the Cencora hack was paid in three installments in March via Bitcoin. This is the largest known ransom payment to date. According to two sources, the initial ransom demand was $150 million.

Cencora learned in February that data from its systems had been stolen, according to regulatory filings. Two months after disclosing the incident, Cencora began notifying individuals and state governments that their personal data, including names, addresses, dates of birth, diagnoses, prescriptions, and medications, had been stolen. The company's July quarterly report stated that $31.4 million in “other” expenses for the nine months ending June 30th were largely due to a cybersecurity event related to the data breach. It is unclear if these funds are related to the cyberattack.

Cencora, headquartered in Conshohocken, Pennsylvania, is valued at approximately $46 billion and generated $262 billion in revenue last fiscal year. The company was previously known as AmerisourceBergen.

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