Nubeva Announces Another Successful Ransomware Decryption

Rhea-AI Summary

Nubeva Technologies has successfully decrypted a ransomware attack by Black Basta for a client, demonstrating the efficacy of its Ransomware Reversal Solution. This achievement reflects a growing trend in successful decryptions, including notorious groups like Conti and REvil. Nubeva's patented technology captures encryption materials during the attack, allowing clients to recover both encrypted and corrupted data, significantly reducing downtime without paying ransoms. The company aims to alleviate the financial burden ransomware imposes on businesses.

Positive

• Successful decryption of Black Basta ransomware attack, showcasing Nubeva's technological capabilities.
• Ability to recover both encrypted and corrupted data, highlighting unique recovery features.
• Growing list of successful decryptions, indicating strong market relevance and demand.

Negative

• None.

Nubeva’s Ransomware Reversal Solution successfully decrypts Black Basta attack on customer

SAN JOSE, Calif., Dec. 13, 2022 (GLOBE NEWSWIRE) -- Nubeva Technologies (TSX-V: NBVA, OTCQB: NBVAF) today announced the successful decryption of Black Basta ransomware for a customer. This is one of the latest in a growing list of successful decryptions by Nubeva, including lethal threat actors such as Conti, Hive, LockBit, Ragnar Locker, Blackcat, and REvil across multiple industries. Details of the customer and ransomware attack are subject to confidentiality agreements.

“In this attack, a significant amount of data was also corrupted on top of catastrophic data encryption. Typically, threat actors cannot recover corrupted data even after a ransom payment. But Nubeva’s technology often can,” said Steve Perkins, Nubeva CMO. “In this case, we recovered both encrypted and corrupted data, further exhibiting the breakthrough nature of our technology and capabilities.”

Nubeva’s patented Ransomware Reversal technology captures ransomware encryption materials at the moment of attack, enabling victim organizations to decrypt locked files without paying the ransom. Its software collects vital metadata on the attack to aid in incident response, significantly aiding triage, investigations, and threat removal.

“The continued increase in successful ransomware attacks shows that even with state-of-the-art firewalls, anti-virus, and end-point detection and response systems (EDRs), ransomware often still finds a way in,” said Perkins. “A common misconception is that backup-ups will be there when that day comes. Unfortunately, attackers are adept at disabling and deleting backups to create extended downtimes for businesses that drive them toward paying the ransom. That is the gap we fill.”

About Nubeva Technologies

Nubeva Technologies provides next-generation decryption solutions for faster, lower-cost recovery from ransomware attacks. Its mission is to reduce downtime costs and damages, so businesses never pay ransoms again.

Nubeva’s ransomware reversal software is available to end-user enterprises, managed security service providers, incident responders, and cybersecurity solution manufacturers. For a private briefing on Nubeva’s ransomware reversal and retrieval abilities, Contact Us.

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.

FAQ

What is Nubeva Technologies' recent achievement regarding ransomware?

Nubeva Technologies successfully decrypted a Black Basta ransomware attack for a customer, demonstrating the effectiveness of its Ransomware Reversal Solution.

What is the significance of Nubeva's Ransomware Reversal technology?

Nubeva's technology allows organizations to recover locked files without paying ransoms by capturing ransomware encryption materials during the attack.

Which ransomware groups has Nubeva successfully decrypted?

Nubeva has decrypted ransomware from notable groups such as Conti, Hive, LockBit, Ragnar Locker, Blackcat, and REvil.

What industries can benefit from Nubeva's ransomware recovery solutions?

Nubeva's ransomware reversal software is designed for end-user enterprises, managed security service providers, incident responders, and cybersecurity solution manufacturers.

What is Nubeva's mission in the cybersecurity space?

Nubeva's mission is to reduce downtime costs and damages from ransomware attacks, enabling businesses to avoid paying ransoms.