If you have been following us on Instagram, you know we've suffered a massive ransomware attack.
In September of 2020, Valhalla's parent company and affiliates became victim of a targeted, and well-executed cyber attack. The intruders first crippled our two-layer back-up strategy and then proceed to encrypt every files the company had ever created. Thereafter, the ransom note demands USD$200,000 to "unlock" those files.
For a small business, $200k is not easy to come by. Although "affordability" is always relative, what we really asked ourselves... is even if we could afford it, should we pay the ransom?
It was just a couple weeks ago technology giant Garmin reportedly paid hackers US$10 million to have their system restored. It is payment like those that fueled the proliferation of ransomware attacks - imagine how much software development prowess can millions of dollars buy. And the cycle continues - more ransom payment will encourage more sophisticated attacks.
In the end, the decision was made to just suck it up and rebuild everything from scratch. From accounting records, to all sales history, to engineering files. EVERYTHING we've ever created, that all employees poured their heart and soul into, were gone. But we also heard our supporter's rally cry - do not give into evil, and you can rest assure we are going to do exactly that - if the company is going to die from it, we will at least die trying.
I will update this blog with more information as time goes by, to outline where our strategy had failed, so hopefully you all can learn from our mistake and not become the next victim. For now, we have lots to do... and do we will!